Report the acquisition or abandonment of secured property with 1099Online. Prepare Form 1099-A, import multiple returns, review borrower details, eFile with the IRS, and deliver recipient copies from one platform.
Foreclosure or abandonment of property can leave lenders with a Form 1099-A filing requirement. Form 1099-A is used to report that event to the IRS and the borrower, including the outstanding principal and, when required, the property's fair market value.
Form 1099-A, Acquisition or Abandonment of Secured Property, is used when a lender takes over property that secured a loan in full or partial satisfaction of the debt, or learns that the borrower has abandoned the property.
The form is filled with the borrower and lender details and also reports details such as the date of acquisition or abandonment, the principal balance still outstanding, the property's fair market value when applicable, and whether the borrower was personally liable for the debt. It’s to be noted that Form 1099-A reports the property transaction only while the cancellation of the remaining debt is addressed separately under the Form 1099-C rules.
You generally must file Form 1099-A for each borrower when money was lent in connection with your trade or business and either:
The filing rule is not limited to banks or businesses whose main activity is lending. The IRS specifically states that you do not have to be in the business of lending money for Form 1099-A reporting to apply.
Separate rules also cover governmental lenders, later holders of a transferred loan, loans with multiple owners, and situations involving more than one lender.
One loan, multiple owners
When several parties own interests in the same loan, the trustee, record owner, or similar person files Form 1099-A on behalf of all the owners. Only one form is filed for each borrower for that loan.
Government lenders
Governmental units and their subsidiary agencies are also subject to Form 1099-A reporting when the usual acquisition or abandonment conditions are met.
Loan transferred to a new holder
After a loan is transferred, the new holder is treated as the lender for reportable events that happen after the transfer.
Multiple lenders involved
Another lender’s foreclosure or acquisition may affect your security interest, but you may still have a separate filing requirement.
Form 1099-A comes into play when a lender takes ownership of secured property or knows that the property has been abandoned.
Some secured property is excluded from Form 1099-A reporting. For example, personal-use tangible property, such as a car securing an individual’s loan, generally does not have to be reported, while property held for investment or business use may be reportable.
If you cancel $600 or more of debt in the same calendar year as a foreclosure or abandonment, you generally do not need to file both forms for the same borrower.
You can file Form 1099-C only and complete boxes 4, 5, and 7 to satisfy the Form 1099-A reporting requirement. If you file both forms, leave those boxes blank on Form 1099-C.
Have these details ready when you file Form 1099-A:
| Form 1099-A Field/Box | What to Enter |
|---|---|
| Lender’s information | Lender’s name, address, telephone number, and TIN |
| Borrower’s information | Borrower’s name, address, and TIN |
| Account number | Add it when you are filing more than one Form 1099-A for the same borrower. For other filings, it is optional but recommended. |
| Box 1 – Date of lender’s acquisition or knowledge of abandonment | The date the lender acquired the secured property or first knew, or had reason to know, that the property was abandoned |
| Box 2 – Balance of principal outstanding | The unpaid principal balance at the time of acquisition or abandonment; do not include accrued interest or foreclosure costs |
| Box 4 – Fair market value of property | The property’s FMV when required; for foreclosure or similar sale, this is generally the sale proceeds unless clear evidence shows otherwise |
| Box 5 – Was borrower personally liable for repayment of the debt? | Check the box if the borrower was personally liable for repayment of the debt |
| Box 6 – Description of property | A description of the secured property |
With the right information on hand, you can complete the form and submit it with fewer filing issues.
There are no major Form 1099-A-specific changes for the 2026 tax year. The basic filing rule remains the same and tied to the acquisition or abandonment of property securing a debt.
Filers should also use Publication 1099, General Instructions for Certain Information Returns, for 2026 reporting. Beginning with tax year 2026, the IRS renamed the general instructions as Publication 1099.
Form 1099-A Filing Requirements
Common exceptions and clarifications
Form 1099-A reporting is based on the acquisition or abandonment of secured property, not a general $600 debt threshold.
Form 1099-A Due Dates for the 2026 Tax Year
For the 2026 tax year, the due dates are:
| Filing Type | Due Date |
|---|---|
| Recipient Copy | February 1, 2027 |
| IRS Paper Filing | March 1, 2027 |
| IRS Electronic Filing | March 31, 2027 |
These dates reflect the standard information return schedule adjusted because January 31, 2027, and February 28, 2027, fall on Sundays.
Step 1: Enter filing details
Fill in the lender and borrower names, TINs, and addresses first.
Step 2: Complete the property section
Then comes the property details which include the date of acquisition or abandonment, principal balance, fair market value when needed, borrower liability, and property description.
Step 3: Check whether Form 1099-C is involved
Once you have filled in all the required information, go over the completed form and see whether the same event also includes canceled debt that needs Form 1099-C reporting.
Step 4: Provide the borrower copy
As the borrower copy is due by February 1, 2027, you have to first furnish Copy B or an acceptable substitute statement.
Step 5: File with the IRS
Next, you have to submit Form 1099-A electronically by March 31, 2027. Electronic filing is generally required when you file 10 or more information returns in aggregate.
Step 6: Track the filing
After your return is submitted, you can access the filing status and related records from your 1099Online account.
Form 1099-A reports the acquisition or abandonment of secured property. Form 1099-C reports cancellation of debt. For example, if a lender forecloses on secured property and cancels $600 or more of the same borrower’s remaining debt in that calendar year, Form 1099-C alone may satisfy both reporting requirements when the applicable boxes are completed.
No. You can have a Form 1099-A reporting requirement even if lending money is not your primary business.
Late, missing, and even incorrect information returns may result in IRS penalties. The exact amount can change by year, but you can use the latest penalties of $60, $130, or $340 per return for 2026 due dates as a point of reference.
Some common errors associated with Form 1099-A include entering the wrong acquisition or abandonment date, principal balance, fair market value, or property details. Along with that, completing both Form 1099-A and boxes 4, 5, and 7 on Form 1099-C for the same debtor can also cause problems.
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