E-file Form 1099-A Online
Prepare and file Form 1099-A easily and securely with TaxBandits to report the acquisition or abandonment of secured property.
All-Inclusive Solution for Form 1099-A Filing
- Multiple Data Import Options
- Distribute Borrower Copies by Mail or Online Access
- AI-powered Assistance at Every Step
- World-Class Customer Support
PRO Features Built for Tax Professionals
- Comprehensive Client Management
- Seamless Team Management
- Insightful Reports
Form 1099-A: Key Insights
- Form 1099-A, is an IRS tax form used by lenders to report when they acquire a property due to foreclosure or when a borrower voluntarily abandons a secured property. It is typically issued to borrowers whose property has been repossessed or foreclosed due to nonpayment of a loan.
- Lenders such as banks, mortgage companies, and other financial institutions file Form 1099-A with the IRS and provide a copy of the form to the borrower.
- Form 1099-A must be filed electronically by March 31, 2025, and furnish the recipient copies by January 31, 2025.
Why Choose TaxBandits to E-file Form 1099-A?
Discover the exceptional features that make TaxBandits the perfect solution for filing 1099-A online.
Exclusive Pro Features for Tax Professionals
Improve your tax filing process and streamline workflows with premium features developed explicitly for tax professionals.
Team Management
Effortlessly organize your team by adding unlimited members and assigning them roles like Preparer, Approver, or Transmitter based on their filing responsibilities.
Client Management
Use client management to securely share documents and communicate with clients through the customized portal that reflects your brand identity.
Custom Reports
Make better decisions with custom reports that provide insights into team performance and client filings, supported by in-depth analytics.
Tax Pros can simplify their 1099-A filing with our advanced features!
Contact our team at (704) 684-4758 to discuss custom pricing options for high-volume filing!
Information Required to E-file Form 1099-A Online
Lender’s Info
Name, address, and TIN of the lender
Borrower’s Info
Name, address, TIN, account number of the borrower
Property and Other Info
This may include,
- Date of lender’s acquisition or knowledge of abandonment
- Balance of principal outstanding
- Indicate if the borrower was personally liable for debt repayment
- Description of property
Fair Market Value (FMV) of the property.
Start filing your 1099-A forms with TaxBandits today.
How to E-file Form 1099-A Online with TaxBandits?
TaxBandits offers you flexible options to complete the 1099-A filing. Simply choose your preferred data import method and file with ease.
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Step 1: Select Form 1099-A
Select Form 1099-A from the dashboard to file for the 2024 tax year.
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Step 2: Enter Form 1099-A Information
Enter the required Form 1099-A information either manually or by bulk upload option.
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Step 3: Choose Distribution Options
You can choose to deliver recipient copies via postal mail, online access, or advanced distribution (that offers both).
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Step 4: Review and Transmit
Review the 1099-A form summary and transmit it to the IRS.
We'll email you updates about the status of your forms. You can also track the status directly from your dashboard.
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Step 1: Download the Standard CSV Template
Download the standard CSV template, fill in the 1099-A information, and upload the information to complete the 1099-A filing.
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Step 2: Review Import Summary
Our system will generate your 1099-A based on the imported data. You can review the data and make changes as needed.
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Step 3: Choose Distribution Options
Choose how to deliver recipient copies: Postal Mail, Online Access, or Postal Mail+Online Access.
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Step 4: Review and Transmit
Review the form summary and transmit the forms to the IRS.
We'll email you updates about the status of your forms. You can also track the status directly from your Dashboard.
Ready to E-file Form 1099-A with the IRS?
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Frequently Asked Questions About Filing Form 1099-A Online
What Is The IRS Form 1099-A?
IRS Form 1099-A is also called Acquisition or Abandonment of Secured Property, issued by a lender to report the foreclosure or repossession of a property. In other words, when a property is foreclosed by the bank or lender, the owner/borrower will receive Form 1099-A in the year following the calendar year in which the lender acquires the property.
Who Is Required To File Form 1099-A?
The Form 1099-A is typically filed by lenders such as banks, mortgage companies, and other financial institutions who have acquired or abandoned secured property. The lender must file Form 1099-A with the IRS and provide a copy of the form to the borrower after the calendar year in which they acquired
the property.
The property can be any real estate property, intangible property, and tangible property except auto-used for personal use.
When you file Form 1099-A electronically with TaxBandits, you can easily distribute recipient copies by mail or through secure online access. Get started today
What is Form 1096?
IRS Form 1096 is also called the Annual Summary and Transmittal of U.S. Information Returns and is used to summarize the Form 1099-A and other 1099 forms that are filed with the IRS.
Form 1096 is only required if you are filing paper copies Forms 1099. You are not required to submit this form when you file Form 1099-A electronically, however, TaxBandits generates a copy in your account for record keeping purposes.
When is the deadline to file Form 1099-A for the 2024 tax year?
The deadline to distribute recipient copies of 1099-A is January 31, 2025. The deadline to file paper copies with the IRS is February 28, 2025, and the deadline to file electronically Form 1099-A with the IRS is March 31, 2025.
If the deadline falls over a weekend or on a federal holiday, the deadline automatically switches to the next business day.
How To Fill Out A 1099-A Form?
The Form 1099-A contains 6 boxes (fields), including one check box. Each box requires specific information. This is a complete breakdown of each box and the information that is needed to report in form.
General Information
The IRS requires the following information of Lender and Borrower on Form 1099-A
Lender Information
- Lender’s Name
- Lender’s TIN
- Lender’s Address
Borrower Information
- Borrower’s Name
- Borrower’s TIN
- Borrower’s Address
Form 1099-A contains 6 boxes, requiring the following information:
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Box 1: Date of lender’s acquisition or knowledge of abandonment
Enter the date that the lender acquired the property.
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Box 2: Balance of principal outstanding
Enter the outstanding principal on the loan when the lender acquires
the property. -
Box 3: Reserved for future use
This box can be left blank, no information is required here.
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Box 4: Fair market value of property
Enter the Fair market value of the property.
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Box 5: Check if the borrower was personally liable for repayment of the debt.
Check the box if the borrower was personally liable for the debt.
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Box 6: Description of property
Enter the description of the property, such as an address, section, lot, block, etc.
What Are The Form 1099-A Copies?
There are three copies of IRS Form 1099-A that are required to be filed or distributed to different parties. Here is a breakdown of the different 1099-A copies.
- Copy A: This copy of the form is filed with the IRS by the lenders.
- Copy B: This copy of the form should be furnished to the borrower.
What are the late filing penalties for Form 1099-A?
If you fail to file and furnish Form 1099-A within the specified deadlines, the IRS will impose penalties ranging between $60 and $660, depending on your business size and the delayed period.
To learn more about the 1099-A penalties, click here
