Updated November 7, 2026. Quick answer: Box 6 of Form 1099-A describes the property the lender acquired or you abandoned: for real property, generally its address, and for personal property its type, make and model. Property means real property, intangible property, and tangible personal property held for investment or used in a business; a car held for personal use is not reportable.
What the borrower’s copy says
“Box 6. Shows the description of the property acquired by the lender or abandoned by you.” The same instructions define the word: “Property means any real property (such as a personal residence), any intangible property, and tangible personal property that is held for investment or used in a trade or business.”
What the lender enters
“Enter a general description of the property.” For land and buildings, “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.” For other property, “For personal property, enter the applicable type, make, and model.” The instructions also allow a category when several items are involved, and a short code for crops forfeited on Commodity Credit Corporation loans.
What is not reported at all
The lender instructions carve out ordinary consumer property: “No reporting is required for tangible personal property (such as a car) securing a loan to an individual and held for personal use.” They also carve out foreign property, in one case: “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).” A car loan can still end in a repossession with a tax result when no 1099-A arrives; the foreclosure worksheet is for that case.
When the property shows up on a 1099-C instead
If the lender sent a combined Form 1099-C, the property description moves to box 4 there: “Box 4. Shows a description of the debt. If box 7 is completed, box 4 also shows a description of the property.” See Form 1099-C boxes explained.
Why check the description
The description is how you tie the form to the loan and the asset you gave up, particularly if you had several loans or a business asset. “If you borrowed money on this property with someone else, each of you should receive this statement.” A wrong address or make and model is the lender’s entry to correct. See the overview of all six boxes for the rest of the form.
Edition
This page reads Form 1099-C and Form 1099-A (both Rev. April 2025), the Instructions for Forms 1099-A and 1099-C (Rev. April 2025) and Publication 4681 for 2025 returns, all files irs.gov served on November 7, 2026 (sha256 in the kit data). Check the revision printed on your own form before you follow a box reference, and the IRS page for the form for anything enacted after these files were published.
Common mistakes
- Assuming no form means no consequence. The exemption for personal-use cars is about the lender’s reporting, not about whether you have a gain, loss or canceled debt.
- Reading the property description as the property’s value. The value is in box 4.
- Expecting a description of crops, a car and a house in the same format. The instructions use an address for real property and type, make and model for personal property.
Related: Form 1099-A boxes explained, and Form 4797.
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Answer againSources
- Form 1099-A, Acquisition or Abandonment of Secured Property (Rev. April 2025): https://www.irs.gov/pub/irs-pdf/f1099a.pdf
- Instructions for Forms 1099-A and 1099-C (Rev. April 2025): https://www.irs.gov/pub/irs-pdf/i1099ac.pdf
- Form 1099-C, Cancellation of Debt (Rev. April 2025): https://www.irs.gov/pub/irs-pdf/f1099c.pdf
Read from the IRS documents linked above on November 7, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer, the account provider or the IRS is the right place to confirm anything consequential.