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IRS Form 1099-A: Acquisition or Abandonment of Secured Property

Reporting COD or Cancellation of Debt is a procedure involving two varied information documents and they are the IRS Form 1099-C or cancellation of Debt and the IRS Form 1099-A or Abandonment or Acquisition of Secured Property. IRS Form 1099-A is generally provided to both tax payers and tax authorities when lenders repossess, foreclose or have reasons to suspect the abandonment of property. Whether or not an individual receives any of these forms within time remaining, it...