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New Member
posted May 31, 2019 4:56:25 PM

I recieved a CP2000 from the IRS stating that i did not report a cancellation of debt 1099 C which I did but turbo tax did not ask for the creditors name.

yes turbo tax did not input this debt amount on my 1040 form

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3 Replies
Level 15
May 31, 2019 4:56:26 PM

Did you do this:
In the TurboTax search box, enter 1099-c and press Enter,
Then click on the Jump to 1099-c link.
On the Tell Us About Your Canceled Debt screen, answer the questions about your form and follow the interviews.

Level 15
May 31, 2019 4:56:27 PM

A creditor's name is not required when entering a Form 1099-C into the TurboTax program.  You only enter the cancelled debt amount, interest and if for a personal residence the Fair Market Value.  You should also have indicated that Debtor was personally liable for repayment of the debt when entering a 1099-C for a personal residence.

You must have followed this procedure in the TurboTax program to report the Form 1099-C

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Scroll down to Less Common Income
  • On Miscellaneous Income, 1099-A, 1099-C, click the start or update button

On the next screen, on Cancellation of debt (Form 1099-C)...click the start or update button

The cancelled debt amount for personal debt would have been entered on Line 21 of Form 1040 as Cancelled Debt Income.

New Member
May 31, 2019 4:56:29 PM

Review your return, did that 1099-C amount show anywhere on the tax return form 1040?