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posted Jun 4, 2019 6:50:59 PM

Do you have to include 1099-c if you only got a letter in lieu with $0 in student debt was cancelled on loans and there were $0 in interest?

Student loans were completely repaid in 2017. "A total of $0
in student loan debt was cancelled on loans we serviced for you during the
tax year. Interest totaling $0
is included in this amount."

0 1 307
1 Best answer
Expert Alumni
Jun 4, 2019 6:51:00 PM

It depends.  From this specific situation there is no canceled debt income to report.  However, if you have a 1099-C that reports canceled debt for any other reason, you will need to report it.  However, a letter in lieu suggests you did not receive a 1099-C, and therefore you have no canceled debt that would be income.

1 Replies
Expert Alumni
Jun 4, 2019 6:51:00 PM

It depends.  From this specific situation there is no canceled debt income to report.  However, if you have a 1099-C that reports canceled debt for any other reason, you will need to report it.  However, a letter in lieu suggests you did not receive a 1099-C, and therefore you have no canceled debt that would be income.