Get Irs Instruction 1099-a & 1099-c 2017

This guide provides a comprehensive overview of how to fill out the IRS Instruction 1099-A & 1099-C online. Designed for ease of use, it will walk you through each component of the forms ensuring you are well-equipped to complete them correctly.

Follow the steps to complete the forms accurately online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin with Form 1099-A. In Box 1, enter the date you acquired the secured property or the date you knew the property was abandoned.
3. In Box 2, record the balance of principal outstanding at the time you acquired the property or recognized abandonment. Only include the unpaid principal amount.
4. For Box 3, leave this box blank as it is not used.
5. In Box 4, provide the fair market value of the property at the time of foreclosure or abandonment, if applicable.
6. In Box 5, indicate whether the borrower was personally liable for repayment of the debt by placing an ‘X’ in the checkbox if applicable.
7. In Box 6, include a description of the property, such as the address for real property or the make and model for personal property.
8. If you have multiple accounts for the same borrower, include the account number where indicated.
9. Now proceed to Form 1099-C. In Box 1, enter the date when the lender acquired the property or knew of its abandonment.
10. For Box 2, report the amount of canceled debt. Ensure it reflects the total amount owed minus any received payback.
11. In Box 3, if you included interest in Box 2, report it here.
12. For Box 4, provide a detailed description of the debt being canceled.
13. In Box 5, check the box if the debtor was personally liable for the canceled debt by placing an ‘X’.
14. Finally, review all entries for accuracy, and save your changes. You can download, print, or share the completed forms as necessary.

Start filling out your 1099-A & 1099-C forms online today!