What Is A 1099-A Form Used For - Irs requires lenders to file in the year following the calendar year they acquired the property (foreclosure) or know that it has been abandoned. It becomes relevant in situations like foreclosure, where a lender acquires an interest in a property due to default on loan. It is filed by lenders to report properties that were transferred due to foreclosure or abandonment.
It is filed by lenders to report properties that were transferred due to foreclosure or abandonment. It becomes relevant in situations like foreclosure, where a lender acquires an interest in a property due to default on loan. Irs requires lenders to file in the year following the calendar year they acquired the property (foreclosure) or know that it has been abandoned.