TurboTax Support

Form 1099-A, Acquisition or Abandonment of Secured Property

If you do not make payments due on a loan secured by property, your lender may foreclose on your mortgage or repossess the property. Lenders could send a Form 1099-A, Acquisition or Abandonment of Secured Property, or Form 1099-C, Cancellation of Debt, or both. If you received a 1099-A because you have abandoned personal property, such as a car, you don't need to report it in your return.

Keep this form for your records in case you get a 1099-C that indicates the debt has actually been forgiven.

IMPORTANT: If you received a 1099-A for a business- or investment-related property, such as a rental property or company car, please consult a professional or IRS Publication 544 Sales and Other Disposition of Assets and IRS Publication 4681 Canceled Debts, Foreclosures, Repossessions and Abandonments before continuing.

Did This Article Answer Your Question?
Did this article answer your question?
Your Feedback
Cancel Submit
Contact Us