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Mslabubu
Level 2
February 27, 2025
Question

1099c please help

  • February 27, 2025
  • 5 replies
  • 33 views

I have a small corporation and I have a business credit card which is personally guaranteed. The  debt is canceled, now they send me two 1099c forms one to EIN and one to SSN. Should I just file to personal since I am personally guarantor?

    5 replies

    ThomasM125
    Alumni - Intuit
    February 27, 2025

    You could report it in either place, but the IRS will more likely look for it to be reported on your personal tax return, so I suggest you report it there. Keep a copy of both notices as the IRS may inquire about it later on so you will need evidence that it is a duplicate reporting.

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    MslabubuAuthor
    Level 2
    February 27, 2025

    Thank you for your response. So I don’t need to do anything 1099c form that issues to EIN? 

    MaryK4
    MaryK4
    Alumni - Intuit
    February 28, 2025

    Correct, as long as you report the income on your personal return, you do no have to report under EIN.  @Mslabubu 

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