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1099 A Full Process

The document outlines the process for filing a 1099A form online, detailing steps from account creation to form completion. It specifies the information required for both the lender and borrower sections, including personal and business details. Additionally, it provides a cover letter template for communication with a trustee and lists relevant laws and terms to understand in this context.

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godisblackwakeup
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820 views11 pages

1099 A Full Process

The document outlines the process for filing a 1099A form online, detailing steps from account creation to form completion. It specifies the information required for both the lender and borrower sections, including personal and business details. Additionally, it provides a cover letter template for communication with a trustee and lists relevant laws and terms to understand in this context.

Uploaded by

godisblackwakeup
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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PAY YOUR BILLS

FOR THE YEAR


1099A FULL PROCESS

TAMIAS PLAN
1) Visit 1099online.com
2) Create account & Log In
3) Click Dashboard
4) Click E-file new form
5) Click tax year for
previous year
6) Click form 1099A
7) Fill Out Form

For this process you will be the lender


because you have given them
permission to take money from your
social security trust .
LENDERS BOX :
TYPE - Individual
SSN - Your Social Security Number
FIRST NAME - John-Doe:
MIDDLE NAME - Blank
LAST NAME - Smith BENEFICIARY
ADDRESS - Your Address
CITY
STATE
ZIP
COUNTRY
PHONE
LAST FILING - Do Not Check This Box
BORROWERS BOX :
TYPE - Business
EIN - Business EIN
BUSSINESS NAME - Name of business
ATTENTION TO - CEO of company
ADDRESS - Business Address
LENDERS TIN - Your Social
Security Number
BORROWERS TIN - Company EIN
ACCOUNT NUMBER - The
account number you were given
for the account you are filing for
LET’S GO OVER WHAT TO
PUT IN THESE BOXES ‼️
BOX 1 (Date of lender’s acquisition or knowledge
of abandonment) - Date you opened account or
signed contract

BOX 2 (Balance of principal outstanding) - The


amount of the statement You pay each month

BOX 3 - BLANK

BOX 4 (Fair market value of property) - The


amount of the statement you receive each
month times 12 or the full amount financed if it
is a loan

BOX 5 (5 Check if the borrower was personally


liable for repayment
of the debt ) - You will check this box

BOX 6 (Description of property) - The type of


account your going to payand a description.

EXAMPLE DESCRIPTIONS FOR BOX 6 :

1) Credit Card bill through chase

2) Auto Loan through Capital One Auto


Finance
COVER LETTER TEMPLATE TO
SEND TO TRUSTEE :

Your Name
Address
City , State , Zip

Trustee Name
Full Address

RE: 1099A Accepted by IRS

To whom it may concern ,


I have filled out the 1099A form attached
and it was accepted by the IRS . I am
aware that you are responsible for this
discharge of this debt. Please follow up
and make sure that everything has been
completed.
Thank You ,
John-Doe: Smith BENEFICIARY

*A copy of the 1099A that was accepted should be


printed out and sent to the company and the trustee
LAWS TO STUDY

15 USC 1666
SECURITIES EXCHANGE ACT OF 1934
15 U.S.C. 7262(b)
17 CFR 230.425
17 CFR 240.14a-12
17 CFR 240.14d-2(b)
17 CFR 240.13e-4(c)
Truth In Lending Act
Securities Act of 1933
TERMS TO GET FAMILIAR WITH :

Trustee - A trustee (the person who holds


and administers assets in the interests of
the beneficiary) Assets.

Indenture Trustee - The term “indenture


trustee” means trustee under an indenture

Beneficiary- A beneficiary is an individual


named in a will, revocable trust, or
irrevocable trust to receive property from a
testator or grantor.
IF YOU HAVE CAME THIS
FAR DO NOT STOP - KEEP
GOING WITH YOUR STUDIES
‼️FACT CHECK EVERYTHING
YOU HEAR AND ALWAYS
LOOK FOR THEIR TERMS
AND POLICIES - DO NOT
MAKE UP THINGS AS YOU
GO . THEY GIVE US ALL THE
TOOLS WE NEED .

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