Help - The 1099-A Process


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Just asking for a clarification


I'm going through the videos again.  wanting to make sure that i have all the information but this is just confusing to me  can someone explain it    Please??

in Chris's video   he says to fill out a 1040V  as well!!   in the video he says to have to the dealership fill out the form with their information.

my question is  if the 1040V is to be sent for the "Amount You Owe"  Wouldn't my information be entered because "I" am the one that "owes" the Dealership????

Sorry  Just Confusing to me  

1 Comment
Gabriel-Adam: Forrest

I believe the answer he gave was, the trustee information, aka whoever is going to be receiving the funds for the benefit of the beneficiary, that information is the same on the 1099-OID and on the 1040v.