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New Member
posted Sep 26, 2020 12:10:26 PM

If I have a charge off from a couple credit cards, can I put all of the charge offs from them on this years taxes or do I need to go back last year and amend my taxes?

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1 Best answer
Level 15
Sep 26, 2020 12:18:27 PM

Are you trying to ask what to do with a 1099-C?

 

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-report-excludable-non-taxable-canceled-debt/00/1693722

 

https://ttlc.intuit.com/community/credits-and-deductions/help/is-canceled-forgiven-or-discharged-debt-taxable/

 

 

 

If you got a 1099-C for 2018 it has to go on your 2018 return--not your 2019 return, so if that is the case, then you need to amend your 2018 tax return.

 

Only 2019 data goes on a 2019 tax return.  If you have a 2019 1099-C it goes on your 2019 tax return.

3 Replies
Level 15
Sep 26, 2020 12:13:48 PM

Please explain what you are talking about.  Charge offs for what exactly?   What are you trying to do?

Level 15
Sep 26, 2020 12:18:27 PM

Are you trying to ask what to do with a 1099-C?

 

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-report-excludable-non-taxable-canceled-debt/00/1693722

 

https://ttlc.intuit.com/community/credits-and-deductions/help/is-canceled-forgiven-or-discharged-debt-taxable/

 

 

 

If you got a 1099-C for 2018 it has to go on your 2018 return--not your 2019 return, so if that is the case, then you need to amend your 2018 tax return.

 

Only 2019 data goes on a 2019 tax return.  If you have a 2019 1099-C it goes on your 2019 tax return.

New Member
Sep 26, 2020 7:05:15 PM

That was exactly the question. Thank you for your help. I filed my 2019 taxes and got a 1099-C two months later.