1097-BTC

What is IRS Form 1097-BTC?


IRS Form 1097-BTC is used to report acquisition or abandonment of secured property.
Example use: Debtors use this form to report the foreclosure of a property you borrowed money to purchase.

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When would you need to file a 1097-BTC?

  • Anyone who is allowed a tax credit, directly or indirectly, from a tax credit bond or a stripped tax credit during the calendar year in an amount of at least $10, need to file Form 1097-BTC.
  • Issuers of certain tax credit bonds (or their agents) and nominees/intermediaries (such as a broker, a partnership, a trust, an estate, a regulated investment company, or a real estate investment trust) must report quarterly and file with the IRS annually a separate Form 1097-BTC for each tax credit distributed.
  • For more,visit www.irs.gov

Important dates


With Tax1099.com, you can schedule the date that your forms are transmitted to the IRS. Scheduling your forms gives you time between when we email/USPS your forms to vendors, and when we send the forms to the IRS. This is useful because your vendors may have edits to make. You can make those changes in Tax1099 before the scheduled date at no extra charge. We automatically schedule your IRS eFile transmission at a week away from when you submit, or by the deadline. You can edit this date to match your preference.

Filing Type Due Date
IRS eFile March 31, 2020
IRS Paper Filing Feb 28, 2020

For Recipient

Furnish Copy B of this form to the recipient quarterly and separately for each credit amount indicated and for each bond on or before the 15th day of the second calendar month after the close of the calendar quarter in which the credit is issued.

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E-file Your Tax with Tax1099

Electronically-filed 1097-BTC forms are directly transmitted to the IRS from Tax1099.

You will receive IRS acknowledgement of your eFile by email within 3 - 7 business days.

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