Instructions for Forms 1099-A and 1099-C, Acquisition or Abandonment of Secured Property and Cancellation of Debt

• Legal Form Number: 1099-A
• Year: 2025
• Issuer: Treasury Department
• Section: Treasury Department

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Instructions for Forms

1099-A and 1099-C

(Rev. January 2022)

Acquisition or Abandonment of Secured Property and Cancellation of Debt

Department of the Treasury

Internal Revenue Service

Section references are to the Internal Revenue Code

unless otherwise noted.

Future Developments

For the latest information about developments related to

Forms 1099-A and 1099-C and their instructions, such as

legislation enacted after they were published, go to

IRS.gov/Form1099A and IRS.gov/Form1099C.

What’s New

Continuous-use form and instructions. Form 1099-A,

Form 1099-C, and these instructions have been

converted from an annual revision to continuous use. Both

the form and instructions will be updated as needed. For

the most recent versions, go to IRS.gov/Form1099A and

IRS.gov/Form1099C.

Reminders

In addition to these specific instructions, you should also

use the current General Instructions for Certain

Information Returns. Those general instructions include

information about the following topics.

•Who must file.

•When and where to file.

•Electronic reporting.

•Corrected and void returns.

•Statements to recipients.

•Taxpayer identification numbers (TINs).

•Backup withholding.

•Penalties.

•Other general topics.

You can get the general instructions from General

Instructions for Certain Information Returns at IRS.gov/

1099GeneralInstructions or go to IRS.gov/Form1099A or

IRS.gov/Form1099C.

Online fillable Copies B and C. To ease statement

furnishing requirements, Copies B and C have been made

fillable online in a PDF format available at IRS.gov/

Form1099A and IRS.gov/Form1099C. You can complete

these copies online for furnishing statements to recipients

and for retaining in your own files.

Guidance for creditors regarding discharged student

loans under section 6050P. Rev. Proc. 2020-11

establishes a safe harbor extending relief under Rev.

Proc. 2015-57; Rev. Proc. 2017-24, 2017-7 I.R.B. 916;

and Rev. Proc. 2018-39. See Rev. Proc. 2020-11,

available at IRS.gov/irb/2020-06_IRB#REV-

PROC-2020-11, to determine whether a creditor or

taxpayer qualifies for relief. See Student loan

indebtedness under Exceptions, later.

Specific Instructions for Form 1099-A

File Form 1099-A, Acquisition or Abandonment of

Secured Property, for each borrower if you lend money in

connection with your trade or business and, in full or

partial satisfaction of the debt, you acquire an interest in

property that is security for the debt, or you have reason to

know that the property has been abandoned. You need

not be in the business of lending money to be subject to

this reporting requirement.

Coordination With Form 1099-C

If, in the same calendar year, you cancel a debt of $600 or

more in connection with a foreclosure or abandonment of

secured property, it is not necessary to file both Form

1099-A and Form 1099-C, Cancellation of Debt, for the

same debtor. You may file Form 1099-C only. You will

meet your Form 1099-A filing requirement for the debtor

by completing boxes 4, 5, and 7 on Form 1099-C.

However, if you file both Forms 1099-A and 1099-C, do

not complete boxes 4, 5, and 7 on Form 1099-C. See the

Specific Instructions for Form 1099-C, later.

Property

“Property” means any real property (such as a personal

residence), any intangible property, and tangible personal

property except the following.

•No reporting is required for tangible personal property

(such as a car) held only for personal use. However, you

must file Form 1099-A if the property is totally or partly

held for use in a trade or business or for investment.

•No reporting is required if the property securing the loan

is located outside the United States and the borrower has

furnished the lender a statement, under penalties of

perjury, that the borrower is an exempt foreign person

(unless the lender knows that the statement is false).

Who Must File

In addition to the general rule specified above, the

following rules apply.

Multiple owners of a single loan. If there are multiple

owners of undivided interests in a single loan, such as in

pools, fixed investment trusts, or other similar

arrangements, the trustee, record owner, or person acting

in a similar capacity must file Form 1099-A on behalf of all

the owners of beneficial interests or participations. In this

case, only one form for each borrower must be filed on

behalf of all owners with respect to the loan. Similarly, for

bond issues, only the trustee or similar person is required

to report.

Nov 03, 2021Cat. No. 27991U