Help - The 1099-A Process

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Chris's example of 1096 for dealership not clear

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Tyson Nielsen

Chris's example and others of the 1096 show where the dealership's info goes, but down at the signature area, for title he has written beneficiary. If the dealership's info is on the form then shouldn't the dealer be filling out signature and title area with there info? They probably wouldn't put beneficiary in title area. I believe Chris has this form example in video as the top part with the dealership in and the bottom as if you yourself are acting as trustee which is why it is confusing. Would love any feedback. Thanks!

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Jordea-Drael: Patterson
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Yes the dealership should be filling out the 1096 and signing it , but to my understanding if you had an actual trustee they would sign beneficiary in that they would be the beneficiary of the funds they receive on your behalf.

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Administrator
Best Answer

Chris will eventually make new videos to address the confusion part of the video.

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