Dont even know how to title this

Has anyone ever received a tax form 1099A from a customer it says acquisition or abandonment.   Customer is telling me to collect their payment from IRS. We have never heard of anything like this.  I'm Baffled 


  • themage
    themage Registered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    As far as I know, 1099A is only applicable if you loaned someone money and held their property as security. That doesn't really apply in the self storage industry.

    Generally speaking, the tenant has the options of paying the bill or letting it go to auction. They can also offer the contents of the unit voluntarily in lieu of rent and fees, if the storage facility is willing. The specifics of this will vary by state and city.

    I am not a lawyer or tax expert, but this is how I understand the laws around where I am.

    LADYLIFT1 Registered User ✭✭✭
    Yes, that is what I was told from the accountant.  I think she's a scammer.

© 2018 SiteLink Software, LLC. All Rights Reserved

Terms of Use  |  Privacy Policy   |  Cookies Policy   |  Help  |  Contact Community Manager   |  Change Marketplace Ads