Fill out Form 1099-A (Acquisition or Abandonment of Secured Property) online
Form 1099-A reports the acquisition or abandonment of property that secured a debt, such as a foreclosure or repossession. The lender files this form to notify the borrower and the IRS of the event, which may result in a taxable gain or loss for the borrower.
How to fill out Form 1099-A (Acquisition or Abandonment of Secured Property)
Enter lender and borrower information
Fill in the lender's name, address, phone, and TIN. Enter the borrower's name, address, and TIN.
Report the date and balance
Enter the date of the lender's acquisition or knowledge of abandonment in Box 1. Enter the balance of principal outstanding on the debt in Box 2.
Report property details
Enter the fair market value of the property in Box 4. Provide a description of the property in Box 5 (such as the property address for real estate).
Indicate personal liability and file
Check Box 5 if the borrower was personally liable for repayment of the debt. File Copy A with the IRS and provide Copy B to the borrower by the applicable deadlines.
About Form 1099-A (Acquisition or Abandonment of Secured Property)
Who needs this form
Lenders (banks, mortgage companies, or other financial institutions) who acquire an interest in property that was security for a debt, or who have reason to know that the property has been abandoned. Borrowers receive a copy to determine whether they have a taxable gain or loss.
Where to submit
Lenders file Copy A with the IRS by the applicable IRS filing deadline for the filing year. Provide Copy B to the borrower by the deadline listed in the latest official instructions.
Source and content freshness
- Reviewed: 2026-02-24
- Filing deadlines may shift for weekends and holidays. Verify due dates with official instructions.
Common mistakes to avoid
- Not filing Form 1099-A when property is abandoned even though no formal foreclosure occurred
- Entering the wrong fair market value of the property, which affects the borrower's gain or loss calculation
- Confusing Form 1099-A (acquisition) with Form 1099-C (cancellation of debt) when both events occur
- Failing to file when the borrower is personally liable for the debt versus nonrecourse debt
Frequently asked questions
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Do I owe taxes if I receive a Form 1099-A?
It depends. A Form 1099-A reports that your lender acquired your property or you abandoned it. You may have a taxable gain if the outstanding debt exceeds your adjusted basis in the property. If the lender also cancels any remaining debt, you may receive a separate Form 1099-C for the cancelled amount, which could be taxable income unless an exclusion applies.
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