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under what circumstances would a lender file form 1099A with the IRS and send the taxpayer...

under what circumstances would a lender file form 1099A with the IRS and send the taxpayer a copy

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Solution: a) In case of acquistion of Secured property from Borrower b) On the Adandonment of secured property by the Borrower Answer: Explanation: As per IRS, in the above case, form 1099A will be filed with the IRS and Send a copy to borrower On form 1099A, lender reports the amount of Principal only and Fair value of secured property as of date. It is standardized. No further explanation require

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