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.

37 Comments
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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!!

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Crystal Good
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thats good stuff and inspiring thanks for the post

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Louis Almaguer
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What about the 1099 OID, according to the process, it must be filed as well, with the 1096 and the 1040v, correct?

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Absolutely
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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

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Linda Coleman
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Awesome

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Noman Almarifawi
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How long did it take to received the money? I'm a dealer I want to do it for my customers.

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Travis R Atkinson
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Where are you located Mr. Noman Almarifawi?

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Noman Almarifawi
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I’m located in Irving Texas
200 N Britain road. Irving Texas 75061
tandhautosale@gmail.com

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Noman Almarifawi
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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.

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Noman Almarifawi
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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

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Administrator
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How exactly will SPC help with the process?

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Shonta Allen
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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?

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May Smithe
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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

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Administrator
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May, please study the 1099-A process course for answers.

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franchesca wiley
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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.

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Nicholas Sarruda
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@franchesca wiley what is the website?

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Michelle
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Wow

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Marilyn Falu
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@ franchesca wiley Could you please share the website where we can submit 1099 online directly to the IRS?

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Tasha
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@Nicholas Sarruda and @Marilyn Falu - the website is called 1099online.com

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Marilyn Falu
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Thank you Tasha.

@Amiminstrator, congrats! Did you hand write the form or type it up?

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Brenda Louise Carbuccia
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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 :)

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Jonathan
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has anyone been successful with this process?