Success Stories

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Purchased a vehicle using 1099a

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Administrator

Miguel wrote: I purchased a vehicle using 1099a just found someone willing to accept it as payment told them they had to file OID 1096 and 1040v. They received payment I think it was day 38 and now this car is mine.

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Steve Martin
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Help us all out...what dealership. Most fellow patriots can’t find a participating dealer.

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Tina
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What state is the dealership in?

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Administrator
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In his testimony he said he "... found someone willing to accept".. so it might have been a private sale.
Short of finding a dealership willing to accept 1099-As one could also explore the route of private sellers as long as you can trust them.

use a trustee, remove the drama,dealerships gonna act dumb, im gonna be trustee to my homie plus grab5% commission, then he hooks me back, win win thanks ch opening my brain to this game

For Larry-Eugene:Maine,beneficiary How did you become a Trustee? What is the process? Could you share where to find the process. Been searching and digging but evidently I don't understand what to look for. How about a little help on this. I am ASC on Tennessee. Would very much like to learn the Y=Trustee process to help fellow Americans on Tennessee. Like the Jarrett's in Texas.
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Subara-C
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Thank you for posting this success story. Wow day 38! That sounds pretty quick. I wonder if he threw in the 8888 form.

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Administrator
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@Stanley start with 1099-A process course .. then you can request a one-on-one consultation on the trustee process via the contact us link above.

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Rebecca K Murphy
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Stanley Davenport: In the Jarrett Realty Investor's Ebook , on page 24, the question says, "Can I act as a trustee for my spouse/family member?" The answer is on page 25- A married couple has their trusts joined by the state, so cannot be each other's trustee. However, A friend, sibling, adult child Father, Mother , Uncle ect., can be trustee to a family member.

We know in our region a dealer who knows the 1099a way, this info is given to me and we are to start with this soon. Also have a question if it is possible to use a third account ( in business we use it from time to time).

For Greg:
Sorry to hear this. But if you file a 1099a for a car, and it was not a succes, or did something wrong, they will inform i believe the trustee (dealer). Ok. Bad luck, but than you just try again ... . What have a judge in this case to do with this process. Maybe very private, i understand perfectly. But in this process a judge in a state have nothing to say about this , or you had a trustee who fucked it up for you.

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Terry Harrold
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Excellent.

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Mauri Swanson
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Great job!! Send us pics with your new car!!