☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Mar 6, 2020 2:17:22 PM

Corrected 1099-C

I received a 1099-C on a debt that was included in a bankruptcy. I called the company twice and they said they couldn't help me because it was an automated form. So I filed my taxes with a form 982 to exclude the debt from my income. Got my mail today and I have received a corrected 1099-C with an amount due of $0. Do I need to do anything since I already filed my taxes?

0 2 717
1 Best answer
Expert Alumni
Mar 7, 2020 2:48:16 PM

I recommend filing an amended return in this case because there is no need for Form 982 anymore as it pertains to this debt--the corrected 1099-C says $0. When you amend and are asked to provide the reason for amending, just explain it as you have explained it to us. 

 

Here's how to amend:

  1. Sign in to TurboTax.
  2. Scroll down to Your tax return & documents (you may need to select Show), select 2019 and then Amend (change) return.
    • If you only see the option to amend 2018 or earlier, it's because you can't amend an unfiled 2019 return. Instead, just select Pick up where you left off, make your changes, and disregard the rest of these instructions.
  3. Select Amend using TurboTax Online.
  4. Carefully follow the instructions. Don't worry if your refund changes to $0. This is normal on amended returns.
  5. When finished, we'll give you instructions for printing and mailing your amended return, as amendments can't be e-filed.

Three weeks after mailing your amended return, you can start tracking it at the IRS Where's My Amended Return? tracking tool.  Please allow at least 16 weeks for the IRS to process your amended return.

 

Processing times for amended state returns vary from state to state. If it's been more than 12 weeks since you mailed your amended state return, and you haven't heard anything, we suggest you contact your state tax agency.

2 Replies
Expert Alumni
Mar 7, 2020 2:48:16 PM

I recommend filing an amended return in this case because there is no need for Form 982 anymore as it pertains to this debt--the corrected 1099-C says $0. When you amend and are asked to provide the reason for amending, just explain it as you have explained it to us. 

 

Here's how to amend:

  1. Sign in to TurboTax.
  2. Scroll down to Your tax return & documents (you may need to select Show), select 2019 and then Amend (change) return.
    • If you only see the option to amend 2018 or earlier, it's because you can't amend an unfiled 2019 return. Instead, just select Pick up where you left off, make your changes, and disregard the rest of these instructions.
  3. Select Amend using TurboTax Online.
  4. Carefully follow the instructions. Don't worry if your refund changes to $0. This is normal on amended returns.
  5. When finished, we'll give you instructions for printing and mailing your amended return, as amendments can't be e-filed.

Three weeks after mailing your amended return, you can start tracking it at the IRS Where's My Amended Return? tracking tool.  Please allow at least 16 weeks for the IRS to process your amended return.

 

Processing times for amended state returns vary from state to state. If it's been more than 12 weeks since you mailed your amended state return, and you haven't heard anything, we suggest you contact your state tax agency.

Level 2
Mar 7, 2020 5:12:46 PM

Thank you so much! I really appreciate it!