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https://trust.therabbithole.site/Reporting_Forms.html.
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Isaiah 59:17 KJV
17 For he put on righteousness as a breastplate, and an helmet of salvation upon his head; and he put on the garments of vengeance for clothing, and was clad with zeal as a cloak.
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Finding the right Rabbit Hole
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The Higher figure in Box 2 is the "outstanding" principal. This is the amount you want to receive as it includes the home's purchase price (in the Box 4 Fair Market Value) and the funds for any renovations, moving, closing costs, heating oil, updates to flooring, painting, new appliances; etc. So this is money for everything related to updating a used home, or a new home. Once updating is done you have added to the Market Value"
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DEBT SETTLEMENT is for all your outstanding debt. Add up credit cards, car loans, house pay off etc. Make sure to place a different number on this second 1099A for the account number: sample: ABC-2023-2; make your own account numbers up and copy/scan front of forms for your records.
NOTE: On the Debt Settlement you can also add the amount of a car/truck/rv etc. Then you can use the money to buy the vehicles outright without going through the 1099A process with dealerships that don't understand it.
The 1099A has 3 forms to a sheet and 2 carbon copies; a B copy which you should receive back in the mail. C Copy to the lender.
You will leave the 3rd form on the 1099A BLANK. If any fees or taxes are due the IRS they can fill out the 3rd form and collect what is owed to them from your Trust.
You are NOT a taxpayer, you are the "beneficiary".
Do not separate the forms. ONLY USE BLACK INK for everything.
For every 1099A there should be a matching 1099OID. You really only need to do a REAL PROPERTY and DEBT SETTLEMENT on the 1099A then the 1099OID will be matched to the 2 forms on the 1099A,
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Sign the back only of the 1099A's ONLY that were filled out with your Beneficiary Autograph, back, top edge.
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The 1099OID form has only 2 forms on a sheet. This form has 4 carbon copies. The figures in Boxes 1 comes from the figures in boxes 2 on the 1099A form.
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Don't complicate this process with sending too many 1099A's. Your "Debt Settlement" can take care of all your debt, the debt of a car/truck, credit cards, any bills or debt you have or will have to pay. The "Real Property" is your home. This simplifies the process for Treasury.
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You will need a Transmittal Form 1096 for EACH form above.
Click on the TRANSMITTAL LINK BELOW for further information.
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Freedom@therabbithole.site
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Questions? Please email us. We do not charge and will answer in a timely manner.
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