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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Success Stories
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Help us all out...what dealership. Most fellow patriots can’t find a participating dealer.
What state is the dealership in?
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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Thank you for posting this success story. Wow day 38! That sounds pretty quick. I wonder if he threw in the 8888 form.
@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.
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.
Excellent.
Great job!! Send us pics with your new car!!
thats good stuff and inspiring thanks for the post
What about the 1099 OID, according to the process, it must be filed as well, with the 1096 and the 1040v, correct?
Jarretts have been Trustees since March this year and have not received funds for themselves or any other of their hundreds of clients so I find it hard to believe someone randomly did this and was successful
Awesome
How long did it take to received the money? I'm a dealer I want to do it for my customers.
Where are you located Mr. Noman Almarifawi?
I’m located in Irving Texas
200 N Britain road. Irving Texas 75061
tandhautosale@gmail.com
My Dealership name is T and H Complete Auto Care LLC
200 N Britain Road Irving TX 76061
If you like to contact me send me in email.
Sorry correction to the ZIP Code 75061
I found a Dealer in California who said their willing to learn with me. It the Hyundai Dealer Garden Grove CA. But you have to talk with them. I told the guy that they just have to send in the forms and when the funds are in their account they can deliver or I can pick up either way. There's more to it than what I can type. Yes it is a process. But Patience and comprehension is the main formula to be successful without any repercussions trouble. 👍 When I successfully complete this I will show and tell.
making sure your a SPC would definately help with this process just a suggestion folks
How exactly will SPC help with the process?
Hi, Noman Almarifawi do you know of any new car dealerships that are willing to accept the 1099's? I am in the Dallas are looking for a new vehicle.
If we do find a dealer willing to hear us out, would you (anyone) advise to send Chris’s training on 1099a acceptance?
Do you guys order the actual form or do you print the 1099a out from the irs website, and use the red portion? Just want to do it right. If there's a dealer who has done this before I'd like to get in touch with you. Thanks
May, please study the 1099-A process course for answers.
Theres a website now where you can submit 1099 As directly to the irs and us treasury for loan payment. They will accept it and I believe contact the companys on your behalf for payments.
@franchesca wiley what is the website?
Wow
@ franchesca wiley Could you please share the website where we can submit 1099 online directly to the IRS?
@Nicholas Sarruda and @Marilyn Falu - the website is called 1099online.com
Thank you Tasha.
@Amiminstrator, congrats! Did you hand write the form or type it up?
Has anyone purchased a car lately using the 1099-a process? I was wanting to get an idea on how long it takes the trustee/seller to get paid since the original post is over a year old. Thank you :)
has anyone been successful with this process?