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  • Car Dealer LTR Sample 1099a

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    Brooks
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    1) The author met with a salesman at Kendall Honda to buy a 2022 Honda CRV for around $38,000. 2) The salesman ran the author's credit and provided financing options from a credit union. 3) The author asked if they could use funds from their Social Security trust to purchase the vehicle. They provided documentation about Form 1099-A for acquiring property. 4) Both the salesman and finance department were unfamiliar with using a 1099-A form to pay for a vehicle purchase directly from a Social Security trust. 5) The author is seeking for Kendall Honda to accept the 1099-A form as payment from the

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    Car Dealer Ltr Sample

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    Car Dealer Ltr Sample 1099a

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    1) The author met with a salesman at Kendall Honda to buy a 2022 Honda CRV for around $38,000. 2) The salesman ran the author's credit and provided financing options from a credit union. 3) The author asked if they could use funds from their Social Security trust to purchase the vehicle. They provided documentation about Form 1099-A for acquiring property. 4) Both the salesman and finance department were unfamiliar with using a 1099-A form to pay for a vehicle purchase directly from a Social Security trust. 5) The author is seeking for Kendall Honda to accept the 1099-A form as payment from the

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    © All Rights Reserved
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    13K views3 pages

    Car Dealer LTR Sample 1099a

    Uploaded by

    Brooks
    1) The author met with a salesman at Kendall Honda to buy a 2022 Honda CRV for around $38,000. 2) The salesman ran the author's credit and provided financing options from a credit union. 3) The author asked if they could use funds from their Social Security trust to purchase the vehicle. They provided documentation about Form 1099-A for acquiring property. 4) Both the salesman and finance department were unfamiliar with using a 1099-A form to pay for a vehicle purchase directly from a Social Security trust. 5) The author is seeking for Kendall Honda to accept the 1099-A form as payment from the

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    © All Rights Reserved
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    of 3

    March 16, 2022

    From: Melonie-Suzanne: Family of Stone, beneficiary, Trustor, and Secured-party to the Social
    Security Cestui que Trust MELONIE SUZANNE STONE
    Without prejudice
    111 Maxwell Lane
    Eugene, Oregon 97422

    TO: Gary Newport, Manager


    Kendall Honda
    846 Goodpasture Island Road
    Eugene, Oregon 97401

    Dear Mr. Newport,

    I am writing to you to seek a remedy by accepting a 1099-A payment to honor an agreement between
    Kendall Honda and me.

    Today, Wednesday, March 16, 2022 I went into Kendall Honda and met with Salesman, John Smith who
    helped me as I sought to buy a new vehicle. John was very helpful, answered my questions and I decided
    on a 2022 CRV 1.5T AWD EX-L VIN #2HKRW2H90NH628825 with a tow package just under
    $38,000.00.

    John and I sat down and he asked me for my driver's license, social security number (and car insurance
    card) and ran a credit report on me. Then John returned and said I qualified to buy the car and he would
    let me know what financial options were available to me. He came back with an offer from Twin Credit
    Union with three payment options.

    I then asked John if I could use my trust to pay for the car. John wasn't familiar with using trusts to buy
    automobiles. I explained to him that it isn't uncommon for people with trust funds to pick out a car and
    use the trust to pay for the car. I then shared with Dorman that I have a trust, Social Security Trust for
    which I am the beneficiary of and would like to use funds in the Trust to buy the Honda CRV.

    I told John that when my Social Security number was used to run a credit check on me that Kendall
    Honda became a trustee in my trust and since I am the beneficiary, the trustee has a fiduciary obligation
    to benefit the beneficiary. Using the off-ledger funds in my Social Security Trust account would cover
    the cost of the car. I would like to add that the credit report I signed was signed using my beneficiary
    name (Melinda-N.: Stone, bene.). See attachment.

    I provided a copy of "Instructions for Forms 1099-A and 1099-C" and explained how the 1099-A form is
    for Acquisition (not just Abandonment of Secured Property) and said that I would like to use the 1099-A
    and with it provided the 1099 OID, 1096 and 1040V IRS forms that the dealership fills out and sends into
    the US Treasury with my completed 1099-A form. I then said that in 45 days or less that the Treasury
    would send the full amount of car price to Kendall and then I could pick up the car. Actually the IRS has

    Melinda-S.: Stone, beneficiary Agreement with Kendall Honda Page 1


    an 1199-A form which can direct deposit funds in 10 days or less. That link is here:
    https://www.irs.gov/pub/irs-utl/sf-1199-a_dirdeposit.pdf

    Since John didn't understand the process, he went to the Finance Dept and brought out Don Dowd who I
    explained the whole process to. Don was also unaware of this perfectly legal financing procedure. I
    showed Jake in the instruction pamphlet an example for using the 1099-A in acquiring "personal
    property" which was a "Car-2017 Honda Accord." Don didn't make the connection.

    Don suggested I go to Twin Credit Union and see if they would agree to creating a short-term loan in
    which I could have them file the 1099-OID, 1096 and 1040V with my 1099-A IRS forms as it would be
    better for the dealership. I did not want to go that route as the dealership had the ability and responsibility
    to accept the my 1099-A form as the trustee in my Social Security Trust.

    I look forward to your prompt reply to resolve this issue, complete the sale using my 1099-A form of
    payment to pay Kendall Honda and put me in a new Kendall Honda 2022 CRV 1.5T AWD EX-L.

    Sincerely and without ill will, vexation or frivolity.

    By:______________________________________
    Melonie-N.: Stone, beneficiary
    Without prejudice

    Attachment: 1

    Subscribed and sworn to before me this ______ of March, 2022: Current Era.

    My commission expires: ___________

    ____________________________________
    Notary Signature

    Seal:

    Melinda-S.: Stone, beneficiary Agreement with Kendall Honda Page 2


    ATTACHMENT- 1

    Melinda-S.: Stone, beneficiary Agreement with Kendall Honda Page 3

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