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Utasítások Forms 1099-A és 1099-C

Instrukciók Forms 1099-A és 1099-C, Akvizíció vagy elhagyása biztonságos tulajdon és törlés a adósság

Rev. január 2022

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Department of the Treasury  
Internal Revenue Service  
Instructions for Forms  
1099-A and 1099-C  
(Rev. January 2022)  
Acquisition or Abandonment of Secured Property and Cancellation of Debt  
Section references are to the Internal Revenue Code  
Specific Instructions for Form 1099-A  
unless otherwise noted.  
File Form 1099-A, Acquisition or Abandonment of  
Future Developments  
Secured Property, for each borrower if you lend money in  
For the latest information about developments related to  
Forms 1099-A and 1099-C and their instructions, such as  
legislation enacted after they were published, go to  
connection with your trade or business and, in full or  
partial satisfaction of the debt, you acquire an interest in  
property that is security for the debt, or you have reason to  
know that the property has been abandoned. You need  
not be in the business of lending money to be subject to  
this reporting requirement.  
What’s New  
Continuous-use form and instructions. Form 1099-A,  
Form 1099-C, and these instructions have been  
converted from an annual revision to continuous use. Both  
the form and instructions will be updated as needed. For  
the most recent versions, go to IRS.gov/Form1099A and  
Coordination With Form 1099-C  
If, in the same calendar year, you cancel a debt of $600 or  
more in connection with a foreclosure or abandonment of  
secured property, it is not necessary to file both Form  
1099-A and Form 1099-C, Cancellation of Debt, for the  
same debtor. You may file Form 1099-C only. You will  
meet your Form 1099-A filing requirement for the debtor  
by completing boxes 4, 5, and 7 on Form 1099-C.  
However, if you file both Forms 1099-A and 1099-C, do  
not complete boxes 4, 5, and 7 on Form 1099-C. See the  
Reminders  
In addition to these specific instructions, you should also  
use the current General Instructions for Certain  
Information Returns. Those general instructions include  
information about the following topics.  
Who must file.  
Property  
When and where to file.  
Electronic reporting.  
“Property” means any real property (such as a personal  
residence), any intangible property, and tangible personal  
property except the following.  
Corrected and void returns.  
Statements to recipients.  
Taxpayer identification numbers (TINs).  
Backup withholding.  
No reporting is required for tangible personal property  
(such as a car) held only for personal use. However, you  
must file Form 1099-A if the property is totally or partly  
held for use in a trade or business or for investment.  
Penalties.  
Other general topics.  
You can get the general instructions from General  
No reporting is required if the property securing the loan  
is located outside the United States and the borrower has  
furnished the lender a statement, under penalties of  
perjury, that the borrower is an exempt foreign person  
(unless the lender knows that the statement is false).  
Online fillable Copies B and C. To ease statement  
furnishing requirements, Copies B and C have been made  
fillable online in a PDF format available at IRS.gov/  
Form1099A and IRS.gov/Form1099C. You can complete  
these copies online for furnishing statements to recipients  
and for retaining in your own files.  
Who Must File  
In addition to the general rule specified above, the  
following rules apply.  
Multiple owners of a single loan. If there are multiple  
owners of undivided interests in a single loan, such as in  
pools, fixed investment trusts, or other similar  
Guidance for creditors regarding discharged student  
loans under section 6050P. Rev. Proc. 2020-11  
establishes a safe harbor extending relief under Rev.  
Proc. 2015-57; Rev. Proc. 2017-24, 2017-7 I.R.B. 916;  
and Rev. Proc. 2018-39. See Rev. Proc. 2020-11,  
arrangements, the trustee, record owner, or person acting  
in a similar capacity must file Form 1099-A on behalf of all  
the owners of beneficial interests or participations. In this  
case, only one form for each borrower must be filed on  
behalf of all owners with respect to the loan. Similarly, for  
bond issues, only the trustee or similar person is required  
to report.  
PROC-2020-11, to determine whether a creditor or  
taxpayer qualifies for relief. See Student loan  
indebtedness under Exceptions, later.  
Nov 03, 2021  
Cat. No. 27991U  
 
truncated on any form. See part J in the current General  
Instructions for Certain Information Returns.  
Governmental unit. A governmental unit, or any of its  
subsidiary agencies, that lends money secured by  
property must file Form 1099-A.  
Subsequent holder. A subsequent holder of a loan is  
treated as a lender and is required to report events  
occurring after the loan is transferred to the new holder.  
Multiple lenders. If more than one person lends money  
secured by property and one lender forecloses or  
otherwise acquires an interest in the property and the sale  
or other acquisition terminates, reduces, or otherwise  
impairs the other lenders' security interests in the  
property, the other lenders must file Form 1099-A for each  
of their loans.  
For example, if a first trust holder forecloses on a  
building, and the second trust holder knows or has reason  
to know of such foreclosure, the second trust holder must  
file Form 1099-A for the second trust even though no part  
of the second trust was satisfied by the proceeds of the  
foreclosure sale.  
Account Number  
The account number is required if you have multiple  
accounts for a borrower for whom you are filing more than  
one Form 1099-A. Additionally, the IRS encourages you  
to designate an account number for all Forms 1099-A that  
you file. See part L in the current General Instructions for  
Certain Information Returns.  
Box 1. Date of Lender's Acquisition or  
Knowledge of Abandonment  
For an acquisition, enter the date you acquired the  
secured property. An interest in the property is generally  
acquired on the earlier of the date title is transferred to the  
lender or the date possession and the burdens and  
benefits of ownership are transferred to the lender. If an  
objection period is provided by law, use the date the  
objection period expires. If you purchase the property at a  
sale held to satisfy the debt, such as at a foreclosure or  
execution sale, use the later of the date of sale or the date  
the borrower's right of redemption, if any, expires.  
When To File  
File Form 1099-A in the year following the calendar year in  
which you acquire an interest in the property or first know  
or have reason to know that it has been abandoned.  
For an abandonment, enter the date you knew or had  
reason to know that the property was abandoned unless  
you expect to commence a foreclosure, execution, or  
similar action within 3 months, as explained earlier. If a  
third party purchases the property at a foreclosure,  
execution, or similar sale, the property is treated as  
abandoned, and you have reason to know of its  
abandonment on the date of sale.  
Abandonment  
An abandonment occurs when the objective facts and  
circumstances indicate that the borrower intended to and  
has permanently discarded the property from use. You  
have “reason to know” of an abandonment based on all  
the facts and circumstances concerning the status of the  
property. You will be deemed to know all the information  
that would have been discovered through a reasonable  
inquiry when, in the ordinary course of business, you  
become aware or should become aware of circumstances  
indicating that the property has been abandoned. If you  
expect to commence a foreclosure, execution, or similar  
sale within 3 months of the date you had reason to know  
that the property was abandoned, reporting is required as  
of the date you acquire an interest in the property or a  
third party purchases the property at such sale. If you  
expect to but do not commence such action within 3  
months, the reporting requirement arises at the end of the  
3-month period.  
Box 2. Balance of Principal Outstanding  
Enter the balance of the debt outstanding at the time the  
interest in the property was acquired or on the date you  
first knew or had reason to know that the property was  
abandoned. Include only unpaid principal on the original  
debt. Do not include accrued interest or foreclosure costs.  
Box 3. Reserved for Future Use  
Box 4. Fair Market Value (FMV) of Property  
For a foreclosure, execution, or similar sale, enter the  
FMV of the property. See Temporary Regulations section  
1.6050J-1T, Q/A-32. Generally, the gross foreclosure bid  
price is considered to be the FMV. If an abandonment or  
voluntary conveyance to the lender in lieu of foreclosure  
occurred and you placed an “X” in the checkbox in box 5,  
enter the appraised value of the property. Otherwise,  
make no entry in this box.  
Statements to Borrowers  
If you are required to file Form 1099-A, you must provide a  
statement to the borrower. Furnish a copy of Form 1099-A  
or an acceptable substitute statement to each borrower.  
For more information about the requirement to furnish a  
statement to the borrower, see part M in the current  
General Instructions for Certain Information Returns.  
Box 5. Was Borrower Personally Liable for  
Repayment of the Debt  
If the borrower was personally liable for repayment of the  
debt at the time the debt was created or, if modified, at the  
time of the last modification, enter an “X” in the checkbox.  
Truncating borrower's TIN on statements. Pursuant to  
Regulations section 301.6109-4, all filers of Form 1099-A  
may truncate a borrower's TIN (social security number  
(SSN), individual taxpayer identification number (ITIN),  
adoption taxpayer identification number (ATIN), or  
employer identification number (EIN)) on payee  
Box 6. Description of Property  
Enter a general description of the property. For real  
property, you must generally enter the address of the  
property, or, if the address does not sufficiently identify  
the property, enter the section, lot, and block.  
statements. Truncation is not allowed on any documents  
the filer files with the IRS. A lender's TIN may not be  
-2- Instructions for Forms 1099-A and 1099-C (Rev. 01-2022)  
For personal property, enter the applicable type, make,  
and model. For example, describe a car as “Car—2017  
Honda Accord.” Use a category such as “Office  
Equipment” to describe more than one piece of personal  
property, such as six desks and seven computers. Enter  
“CCC” for crops forfeited on Commodity Credit  
Corporation loans.  
2. A credit union.  
3. Any of the following, its successor, or subunit of one  
of the following.  
a. Federal Deposit Insurance Corporation.  
b. National Credit Union Administration.  
c. Any other federal executive agency, including  
government corporations.  
Specific Instructions for Form 1099-C  
d. Any military department.  
e. U.S. Postal Service.  
f. Postal Rate Commission.  
The creditor's phone number must be provided in  
the creditor's information box. It should be a  
!
CAUTION  
central number for all canceled debts at which a  
4. A corporation that is a subsidiary of a financial  
institution or credit union, but only if, because of your  
affiliation, you are subject to supervision and examination  
by a federal or state regulatory agency.  
person may be reached who will ensure the debtor is  
connected with the correct department.  
Do not file Form 1099-C when fraudulent debt is  
5. A federal government agency including:  
a. A department,  
b. An agency,  
canceled due to identity theft. Form 1099-C is to  
!
CAUTION  
be used only for cancellations of debts for which  
the debtor actually incurred the underlying debt.  
c. A court or court administrative office, or  
File Form 1099-C, Cancellation of Debt, for each  
debtor for whom you canceled a debt owed to you of $600  
or more if:  
d. An instrumentality in the judicial or legislative  
branch of the government.  
1. You are an entity described under Who Must File,  
6. Any organization whose significant trade or  
later; and  
business is the lending of money, such as a finance  
company or credit card company (whether or not affiliated  
with a financial institution). The lending of money is a  
significant trade or business if money is lent on a regular  
and continuing basis. Regulations section 1.6050P-2(b)  
lists three safe harbors under which reporting may not be  
required for the current year. See Safe harbor rules next.  
2. An identifiable event has occurred. It does not  
matter whether the actual cancellation is on or before the  
date of the identifiable event. See When Is a Debt  
Canceled, later.  
Form 1099-C must be filed regardless of whether  
the debtor is required to report the debt as  
!
CAUTION  
income.  
Safe harbor rules. The three safe harbor rules in which  
an entity will not be considered to have a significant trade  
or business of lending money are the following.  
1. No prior year reporting required. An organization  
will not have a significant trade or business of lending  
money for the current year if the organization was not  
required to report in the prior year and if its gross income  
from lending money in the most recent test year (see (3)  
below) is less than both 15% of the organization's gross  
income and $5 million.  
2. Prior year reporting requirement. An organization  
that had a prior year reporting requirement will not have a  
significant trade or business of lending money for the  
current year if, for each of the 3 most recent test years, its  
gross income from lending money is less than both 10%  
of the organization's gross income and $3 million.  
3. No test year. Newly formed organizations are  
considered not to have a significant trade or business of  
lending money even if the organization lends money on a  
regular and continuing basis. However, this safe harbor  
does not apply to an entity formed or availed of for the  
principal purpose of holding loans acquired or originated  
by another entity. In this instance, the transferee entity  
(including real estate mortgage investment conduits  
(REMICs) and pass-through securitized indebtedness  
arrangements) may be required to report cancellation of  
indebtedness on Form 1099-C. See Regulations section  
1.6050P-1(e)(5).  
The debtor may be an individual, corporation,  
partnership, trust, estate, association, or company.  
Do not combine multiple cancellations of a debt to  
determine whether you meet the $600 reporting  
requirement unless the separate cancellations are under a  
plan to evade the Form 1099-C requirements.  
Coordination With Form 1099-A  
If, in the same calendar year, you cancel a debt of $600 or  
more in connection with a foreclosure or abandonment of  
secured property, it is not necessary to file both Form  
1099-A, Acquisition or Abandonment of Secured  
Property, and Form 1099-C for the same debtor. You may  
file Form 1099-C only. You will meet your Form 1099-A  
filing requirement for the debtor by completing boxes 4, 5,  
and 7 on Form 1099-C. However, you may file both Forms  
1099-A and 1099-C; if you do file both forms, do not  
complete boxes 4, 5, and 7 on Form 1099-C. See the  
Who Must File  
File Form 1099-C if you are any of the following.  
1. A financial institution described in section 581 or  
591(a) (such as a domestic bank, trust company, building  
and loan association, or savings and loan association).  
Instructions for Forms 1099-A and 1099-C (Rev. 01-2022) -3-  
     
occurs, you may choose to file Form 1099-C for the year  
of cancellation. No further reporting is required even if a  
later identifiable event occurs with respect to an amount  
previously reported. Also, you are not required to file an  
additional or corrected Form 1099-C if you receive  
payment on a prior year debt.  
Test year defined. A test year is a tax year of the  
organization that ends before July 1 of the previous  
calendar year.  
For example, X, a calendar year taxpayer who has a  
significant trade or business of lending money, is formed  
in year 1. X will not have a test year in year 1 or year 2.  
However, for year 3, X's test year will be year 1. In year 3,  
year 1 is the only year that ended before July 1 of the  
previous calendar year (in this example, year 2).  
When Is a Debt Canceled?  
A debt is deemed canceled on the date an identifiable  
event occurs or, if earlier, the date of the actual discharge  
if you choose to file Form 1099-C for the year of  
Penalties. There are penalties for failure to file correct  
information returns by the due date and for failure to  
furnish correct payee statements. See part O in the  
current General Instructions for Certain Information  
Returns for details.  
cancellation. An identifiable event is one of the following.  
1. A discharge in bankruptcy under title 11 of the U.S.  
Code. For information on certain discharges in bankruptcy  
not required to be reported, see Exceptions, later. Enter  
“A” in box 6 to report this identifiable event.  
2. A cancellation or extinguishment making the debt  
unenforceable in a receivership, foreclosure, or similar  
federal nonbankruptcy or state court proceeding. Enter  
“B” in box 6 to report this identifiable event.  
Exceptions. Until further guidance is issued, no  
penalty will apply for failure to file Form 1099-C, or provide  
statements to debtors, for amounts:  
Discharged in nonlending transactions, or  
Forgiven under the terms of a debt obligation.  
Multiple creditors. If a debt is owned (or treated as  
owned for federal income tax purposes) by more than one  
creditor, each creditor that is described under Who Must  
File, earlier, must issue a Form 1099-C if that creditor's  
part of the canceled debt is $600 or more. A creditor will  
be deemed to have met its filing requirements if a lead  
bank, fund administrator, or other designee of the creditor  
complies on its behalf. The designee may file a single  
Form 1099-C reporting the aggregate canceled debt or  
may file Form 1099-C for that creditor's part of the  
3. A cancellation or extinguishment when the statute  
of limitations for collecting the debt expires, or when the  
statutory period for filing a claim or beginning a deficiency  
judgment proceeding expires. Expiration of the statute of  
limitations is an identifiable event only when a debtor's  
affirmative statute of limitations defense is upheld in a final  
judgment or decision of a court and the appeal period has  
expired. Enter “C” in box 6 to report this identifiable event.  
4. A cancellation or extinguishment when the creditor  
elects foreclosure remedies that by law extinguish or bar  
the creditor's right to collect the debt. This event applies to  
a mortgage lender or holder who is barred by local law  
from pursuing debt collection after a “power of sale” in the  
mortgage or deed of trust is exercised. Enter “D” in box 6  
to report this identifiable event.  
canceled debt. Use any reasonable method to determine  
the amount of each creditor's part of the canceled debt.  
Debt owned by a partnership is treated as owned by  
the partners and must follow the rules for multiple  
creditors.  
Pass-throughs and REMICs. Until further guidance is  
issued, no penalty will apply for failure to file Form  
1099-C, or provide statements to debtors, for a canceled  
debt held in a pass-through securitized debt arrangement  
or held by a REMIC. However, see item 3 under Safe  
harbor rules, earlier.  
A pass-through securitized debt arrangement is any  
arrangement in which one or more debts are pooled and  
held for 20 or more persons whose interests in the debt  
are undivided co-ownership interests that are freely  
transferable. Co-ownership interests that are actively  
traded personal property (as defined in Regulations  
section 1.1092(d)-1) are presumed to meet these  
requirements.  
5. A cancellation or extinguishment making the debt  
unenforceable under a probate or similar proceeding.  
Enter “E” in box 6 to report this identifiable event.  
6. A discharge of indebtedness under an agreement  
between the creditor and the debtor to cancel the debt at  
less than full consideration (for example, short sales).  
Enter “F” in box 6 to report this identifiable event.  
7. A discharge of indebtedness because of a decision  
or a defined policy of the creditor to discontinue collection  
activity and cancel the debt. A creditor's defined policy  
can be in writing or an established business practice of  
the creditor. A creditor's established practice to stop  
collection activity and abandon a debt when a particular  
nonpayment period expires is a defined policy. Enter “G”  
in box 6 to report this identifiable event.  
Debt Defined  
8. Other actual discharge before identifiable event.  
Enter “H” in box 6 if there is an other actual discharge  
before one of the identifiable events listed above.  
A debt is any amount owed to you, including stated  
principal, stated interest, fees, penalties, administrative  
costs, and fines. The amount of debt canceled may be all  
or only part of the total amount owed. However, for a  
lending transaction, you are required to report only the  
stated principal. See Exceptions, later.  
Exceptions  
You are not required to report on Form 1099-C the  
following.  
When To File  
File Form 1099-C in the year following the calendar year  
in which the identifiable event occurs. See Exceptions,  
later. If you cancel a debt before an identifiable event  
1. Certain bankruptcies. You are not required to report  
a debt discharged in bankruptcy unless you know from  
information included in your books and records that the  
debt was incurred for business or investment purposes. If  
-4- Instructions for Forms 1099-A and 1099-C (Rev. 01-2022)  
     
you are required to report a business or investment debt  
discharged in bankruptcy, report it for the later of:  
7. Guarantor or surety. You are not required to file  
Form 1099-C for a guarantor or surety. A guarantor is not  
a debtor for purposes of filing Form 1099-C even if  
demand for payment is made to the guarantor.  
a. The year in which the amount of discharged debt  
can first be determined, or  
8. Seller financing. Organizations whose principal  
trade or business is the sale of nonfinancial goods or  
nonfinancial services, and who extend credit to customers  
in connection with the purchase of those nonfinancial  
goods and nonfinancial services, are not considered to  
have a significant trade or business of lending money,  
with respect to the credit extended in connection with the  
purchase of those goods or services, for reporting  
discharge of indebtedness on Form 1099-C. See  
Regulations section 1.6050P-2(c). But the reporting  
applies if a separate financing subsidiary of the retailer  
extends the credit to the retailer's customers.  
9. Student loan indebtedness. For discharges  
occurring after December 31, 2017, you are not required  
to file Form 1099-C for student loan indebtedness if the  
discharge of the debt is due to the student's death or  
permanent and total disability.  
Rev. Proc. 2020-11 establishes a safe harbor  
extending the relief provided under Rev. Proc. 2015-57,  
2015-51 I.R.B. 863, Rev. Proc. 2017-24, 2017-7 I.R.B.  
916, and Rev. Proc. 2018-39, 2018-34 I.R.B. 319, to  
additional taxpayers who took out federal or private  
student loans to finance attendance at a nonprofit or  
for-profit school. Relief is also extended to any creditor  
that is an applicable entity, as defined by section 6050P  
and the regulations thereunder, that would otherwise be  
required to file information returns and furnish payee  
statements pursuant to section 6050P for the discharge of  
any indebtedness within the scope of this revenue  
procedure. The IRS will not assert that a creditor that is an  
applicable entity, as defined by section 6050P and the  
regulations thereunder, must file information returns and  
furnish payee statements pursuant to section 6050P for  
the discharge of any indebtedness within the scope of  
these revenue procedures. See Rev. Proc. 2020-11 to  
determine whether a creditor or taxpayer qualifies for  
relief.  
b. The year in which the debt is discharged in  
bankruptcy.  
A debt is incurred for business if it is incurred in  
connection with the conduct of any trade or business  
other than the trade or business of performing services as  
an employee. A debt is incurred for investment if it is  
incurred to purchase property held for investment (as  
defined in section 163(d)(5)).  
2. Interest. You are not required to report interest.  
However, if you choose to report interest as part of the  
canceled debt in box 2, you must show the interest  
separately in box 3.  
3. Nonprincipal amounts. Nonprincipal amounts  
include penalties, fines, fees, and administrative costs.  
For a lending transaction, you are not required to report  
any amount other than stated principal. A lending  
transaction occurs when a lender loans money to, or  
makes advances on behalf of, a borrower (including  
revolving credit and lines of credit). For a nonlending  
transaction, nonprincipal amounts are included in the  
debt. However, until further guidance is issued, no  
penalties will be imposed for failure to report these  
amounts in nonlending transactions.  
4. Foreign debtors. Until further guidance is issued, no  
penalty will apply if a financial institution does not file Form  
1099-C for a debt canceled by its foreign branch or  
foreign office for a foreign debtor, provided all the  
following apply.  
a. The financial institution is engaged in the active  
conduct of a banking or similar business outside the  
United States.  
b. The branch or office is a permanent place of  
business that is regularly maintained, occupied, and used  
to carry on a banking or similar financial business.  
c. The business is conducted by at least one  
employee of the branch or office who is regularly in  
attendance at the place of business during normal  
working hours.  
d. The indebtedness is extended outside the United  
States by the branch or office in connection with that trade  
or business.  
Multiple Debtors  
For debts of $10,000 or more incurred after 1994 that  
involve debtors who are jointly and severally liable for the  
debt, you must report the entire amount of the canceled  
debt on each debtor's Form 1099-C. Multiple debtors are  
jointly and severally liable for a debt if there is no clear and  
convincing evidence to the contrary. If it can be shown  
that joint and several liability does not exist, a Form  
1099-C is required for each debtor for whom you canceled  
a debt of $600 or more.  
e. The financial institution does not know or have  
reason to know that the debtor is a U.S. person.  
5. Related parties. Generally, a creditor is not required  
to file Form 1099-C for the deemed cancellation of a debt  
that occurs when the creditor acquires the debt of a  
related debtor, becomes related to the debtor, or transfers  
the debt to another creditor related to the debtor.  
However, if the transfer to a related party by the creditor  
was for the purpose of avoiding the Form 1099-C  
requirements, Form 1099-C is required. See section  
108(e)(4).  
6. Release of a debtor. You are not required to file  
Form 1099-C if you release one of the debtors on a debt  
as long as the remaining debtors are liable for the full  
unpaid amount.  
For debts incurred before 1995 and for debts of less  
than $10,000 incurred after 1994, you must file Form  
1099-C only for the primary (or first-named) debtor.  
If you know or have reason to know that the multiple  
debtors were husband and wife who were living at the  
same address when the debt was incurred, and you have  
no information that these circumstances have changed,  
you may file only one Form 1099-C.  
Instructions for Forms 1099-A and 1099-C (Rev. 01-2022) -5-  
debt before an identifiable event and you choose to report  
that cancellation, enter the date that you actually canceled  
the debt.  
Recordkeeping  
If you are required to file Form 1099-C, you must retain a  
copy of that form or be able to reconstruct the data for at  
least 4 years from the due date of the return.  
Box 2. Amount of Debt Discharged  
Enter the amount of the canceled debt. See Debt Defined  
and Exceptions, earlier. The amount of the canceled debt  
cannot be greater than the total debt less any amount the  
lender receives in satisfaction of the debt by means of a  
settlement agreement, foreclosure sale, a short sale that  
partially satisfied the debt, etc.  
Requesting TINs  
You must make a reasonable effort to obtain the correct  
name and TIN of the person whose debt was canceled.  
You may obtain the TIN when the debt is incurred. If you  
do not obtain the TIN before the debt is canceled, you  
must request the debtor's TIN. Your request must clearly  
notify the debtor that the IRS requires the debtor to furnish  
its TIN and that failure to furnish such TIN subjects the  
debtor to a $50 penalty imposed by the IRS. You may use  
Form W-9, Request for Taxpayer Identification Number  
and Certification, to request the TIN. However, a debtor is  
not required to certify his or her TIN under penalties of  
perjury.  
Box 3. Interest if Included in Box 2  
Enter any interest you included in the canceled debt in  
box 2. You are not required to report interest in box 2. But  
if you do, you must also report it in box 3.  
Box 4. Debt Description  
Enter a description of the origin of the debt, such as  
student loan, mortgage, or credit card expenditure. Be as  
specific as possible. If you are filing a combined Form  
1099-C and 1099-A, include a description of the property.  
Statements to Debtors  
If you are required to file Form 1099-C, you must provide a  
copy of Form 1099-C or an acceptable substitute  
statement to each debtor. In the current General  
Instructions for Certain Information Returns, see:  
Box 5. Check Here if the Debtor Was Personally  
Liable for Repayment of the Debt  
If the debtor was personally liable for repayment of the  
debt at the time the debt was created or, if modified, at the  
time of the last modification, enter an “X” in the checkbox.  
Part M for more information about the requirement to  
furnish a statement to the debtor, and  
Part J for specific procedures to complete Form 1099-C  
for debtors in bankruptcy.  
Truncating debtor's TIN on payee statements.  
Pursuant to Regulations section 301.6109-4, all filers of  
Form 1099-C may truncate a debtor's TIN (social security  
number (SSN), individual taxpayer identification number  
(ITIN), adoption taxpayer identification number (ATIN), or  
employer identification number (EIN)) on payee  
Box 6. Identifiable Event Code  
Enter the appropriate code to report the nature of the  
identifiable event. For more information about the code to  
use when reporting each identifiable event, see When Is a  
Debt Canceled, earlier, and Regulations section  
1.6050P-1(b)(2). Also see Pub. 4681.  
statements. Truncation is not allowed on any documents  
the filer files with the IRS. A creditor's TIN may not be  
truncated on any form. See part J in the current General  
Instructions for Certain Information Returns.  
Box 7. Fair Market Value (FMV) of Property  
FMV should include the appraised value of the  
property if the property is sold in a short sale.  
TIP  
Account Number  
If you are filing a combined Form 1099-C and 1099-A for a  
foreclosure, execution, or similar sale, enter the FMV of  
the property. Generally, the gross foreclosure bid price is  
considered to be the FMV. If an abandonment or voluntary  
conveyance to the lender in lieu of foreclosure occurred,  
enter the appraised value of the property.  
The account number is required if you have multiple  
accounts for a debtor for whom you are filing more than  
one Form 1099-C. Additionally, the IRS encourages you  
to designate an account number for all Forms 1099-C that  
you file. See part L in the current General Instructions for  
Certain Information Returns.  
Box 1. Date of Identifiable Event  
Enter the date of the identifiable event. See When Is a  
Debt Canceled, earlier. However, if you actually cancel a  
-6- Instructions for Forms 1099-A and 1099-C (Rev. 01-2022)