Under what circumstances would a lender file form 1099-a, Ask an Expert

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Under what circumstances would a lender file Form 1099-A with the IRS and send the taxpayer a copy? 1)When the buyer defaults on a loan secured by real property. 2) When the lender forecloses or repossesses the taxpayer's real property. 3) When the seller needs to report mortgage interest paid. 4) When the lender has canceled debt of the buyer over $600.

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