When you enter your 1099-C into Turbotax it will automatically populate your state tax return. To include your 1099-C on your 2016 income tax return follow these steps:
How to Enter a 1099-C Into Turbotax:
• Go to Federal Taxes
• Select Wages & Income
• Click I'll choose what I work on
• Scroll down the page to the last section “Less Common Income”
• Select Start to the right of Miscellaneous Income, 1099-A, 1099-C
• Scroll down the page to the Cancellation of debt (Form 1099-C) or the abandonment and/or acquisition of secured property (Form 1099-A) section and click Start to the right of this line
• Go through all of the questions and enter the 1099-C amount and description of why you received it.
When you enter your 1099-C into Turbotax it will automatically populate your state tax return. To include your 1099-C on your 2016 income tax return follow these steps:
How to Enter a 1099-C Into Turbotax:
• Go to Federal Taxes
• Select Wages & Income
• Click I'll choose what I work on
• Scroll down the page to the last section “Less Common Income”
• Select Start to the right of Miscellaneous Income, 1099-A, 1099-C
• Scroll down the page to the Cancellation of debt (Form 1099-C) or the abandonment and/or acquisition of secured property (Form 1099-A) section and click Start to the right of this line
• Go through all of the questions and enter the 1099-C amount and description of why you received it.