Form 1099-A AR 2022-2025

Form 1099-A AR: What You Should Know

A 1099-A Form is a report of the payment, or any part of one, the payment of the principal amount of a mortgage, by any debtor to a creditor, including a bank, company, limited liability partnership, or a mortgage holding company, other than the obliged, which has been made or received after the debtor has gone through foreclosure of the real property in which the mortgage or lien is recorded, which has resulted or will result in the payment of more than one month's monthly installments, under the mortgage, to a creditor. A 1099-A is filed with the IRS when the IRS finds a debtor or creditor in default by failing to pay the entire outstanding balance as it becomes due and only to the extent required by Federal law. The 1099-A is a government document and no 1099-MISC is required. The 1099-A is not filed until the payment is received. If a creditor (or other person) pays after the IRS notifies the debtor, the 1099-A will need to be filed separately.  1099-A is not a debt collection tool. It only reports the payments and not the debt. The 1099-A is used for tax purposes, NOT as a credit against the interest on the loan. If you have a 1099-A and need to report the payment as a credit or deduction against your income tax, please get help from an attorney. Forms 1099-B, 1099-C, 1099-MISC, 1099-Q, 1099-T, 1098, 1098G, 1099-N, 1099-W and 1099-PR Forms 1099-B (Amended), 1099-C (Amended), 1099-MISC, 1099-Q (Amended), 1098, 1098K, 1098-EQ and 1099-PR (Prohibited). These forms are used to report the payment, or any part of one, the payment of the principal amount of a mortgage, by any debtor to a creditor, including a bank, partnership, Limited Liability Company (LLC) or other entity, which has been made or received after the debtor has gone through foreclosure of the real property in which the mortgage or lien is recorded, which has resulted or will result in the payment of more than one month's monthly installments, under the mortgage, to a creditor.

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