If you have a 1099-C for a car loan, in box 6 it has the letter G can you explain this and will this have to be filed?

3373

New Member

Jun 4, 2019 1:11:08 PM

A 1099C -Debt Cancellation is received If your debt is cancelled or forgiven. You have to report in your taxes.

Code G mean - Decision or policy to discontinue collection

See the below IRS link for additional information.

See the below answer to FAQ on how to enter your 1099-C