You'll need to sign in or create an account to connect with an expert.
Yes, when you get a corrected 1099-C, you just file using the corrected one.
In your case, if the box 2 amount is zero, you don't need to include the form on your tax return at all. That means the cancelled debt is not taxable to you.
Please keep both forms for at least three years after filing, in case there are later questions about the debt cancellation.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
gmonroe
New Member
CCWil
Level 1
goseaitlisa
New Member
always1leticia
New Member
welschboyd
New Member