1099-C

Forum|Forum|3 years ago
April 7, 2023
1 reply
6 views

After I filed my taxes I received a Form 1099-C for a cancellation of Debt. How do I put it in my taxes if I already filed?

DoninGA

Level 15

You will have to wait for the IRS to either Accept or Reject your filed federal tax return.
If the return is rejected you can make the necessary changes and e-file again.
If the return is accepted you will have to amend your original tax return. An amended return, Form 1040-X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 20 weeks or longer to process an amended tax return.

Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.

See this TurboTax support FAQ for amending a tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US?uid=ld1n99kr

spencenvickieAuthor

Level 2

I've never had to pay on my return (lucky enough to always get a refund), do I have to pay it all at once or over time?

DoninGA

Level 15

@spencenvickie wrote:

I've never had to pay on my return (lucky enough to always get a refund), do I have to pay it all at once or over time?

You can pay the amount owed in one payment or if you are having difficulty with a single payment then you can request an installment payment using the IRS online payment plan after you have filed the amended return with taxes owed - https://www.irs.gov/payments/online-payment-agreement-application