Agenda

Nov 9, 2026
11:00 am - 12:30 pm EST

Foreclosures, repossessions, charge-offs, bankruptcies, and debt settlements can all create complicated year-end tax reporting questions. Does the institution file a 1099-A, a 1099-C, or both? When has an identifiable event occurred? What amount should be reported when collateral is repossessed or sold? What happens when a deficiency remains or the institution later agrees to forgive it?

This webinar will provide a practical review of the federal tax reporting rules that apply when a borrower defaults and the institution takes collateral, cancels debt, or settles for less than the amount owed. We will walk through Forms 1099-A and 1099-C in detail, including what belongs in each box and the events that trigger filing. We will examine real-world scenarios involving mortgage foreclosures, deeds in lieu, vehicle and equipment repossessions, abandonment of collateral, charge-offs, deficiency balances, and negotiated settlements.

We will also discuss some of the situations that create the greatest confusion for financial institutions: What if the institution repossessed collateral this year but does not forgive the deficiency until next year? Does a charge-off automatically trigger a 1099-C? How should fair market value be determined? What if multiple loans are secured by the same collateral?

Topics

KEY WEBINAR TAKEAWAYS:

• When your institution must file Form 1099-A, Form 1099-C, or both
• Events that trigger reporting
• IRS rules for canceled debt, deficiency balances, charge-offs, and negotiated settlements
• 1099 reporting when a borrower files bankruptcy or receives a discharge

Speaker(s)

Shelli Clarkston, JD, LLM
Spencer Fane LLP

Shelli Clarkston is an attorney with Spencer Fane LLP where she provides financial institutions with proactive legal counsel on regulatory and compliance matters. She received her law degrees from the University of Missouri – Kansas City and her undergraduate degree from the University of Nebraska – Lincoln. In addition, she has a master’s degree from Doane University.

Before joining Spencer Fane, Shelli was the Risk and Compliance Officer for a financial services technology platform with one of the world’s largest technology companies. She oversaw the platform’s regulatory compliance and handled all risk-related matters. She also has experience as general counsel for a community bank, where she managed all legal, regulatory, compliance, and corporate matters.

Fees

Live Webinar - $279

• Unlimited connections for your institution
• Available on desktop, mobile & tablet
• Take-away toolkit
• Presenter’s contact info for questions

On-Demand Webinar - $279

• Unlimited & shareable access starting two business days after live stream
• Available on desktop, mobile & tablet devices 24/7
• Take-away toolkit
• Ability to download webinar video
• Presenter's contact info for questions

Live + On-Demand - $379

Get the best of both and save when you Bundle the Live & On-Demand Webinar registration! This option includes all the items listed above.

**100% surcharge applied to non-members.

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