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Information about Form 1099-A

Updated: 6/10/2008
Article ID: 3467

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 will send a Form 1099-A, Acquisition or Abandonment of Secured Property, or Form 1099-C, Cancellation of Debt.

Select a link below to go directly to a topic or read through the document to learn about Form 1099-A.

What is Form 1099-A?

A lender who acquires an interest in your property in a foreclosure or repossession should send you Form 1099-A showing the information you need to determine your gain or loss.

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How do I Enter Form 1099-A?

TurboTax Basic, Deluxe, or Premier:

  1. Select the Federal Taxes tab, then select Income.
  2. In the Your Income screen, select the Select Specific Topics button.
  3. In the Your Income screen, select Less Common Income, then select the Start button for Miscellaneous Income.
  4. In the Any Miscellaneous Income? screen, select the cancellation of debt check box.

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  1. Follow the on-screen instructions.

TurboTax Home & Business:

  1. Select the Personal tab, then select Personal Income.
  2. In the Your Personal Income screen, select the Select Specific Topics button.
  3. In the Your Personal Income screen, select Less Common Income, then select the Start button for Miscellaneous Income.
  4. In the Any Miscellaneous Income? screen, select the cancellation of debt check box.
  5. Follow the on-screen instructions.

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