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I settled a student loan with a balance of $980.46 for $490.23. Will I receive a 1099C for such a low amount?

I have received the 1098E from this lender for the same loan, but have not received the 1099C.
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LeeM
New Member

I settled a student loan with a balance of $980.46 for $490.23. Will I receive a 1099C for such a low amount?

Probably not, they are not required to file a Form 1099-C, Cancellation of Debt for a debt of less than $600.

If you do receive that 1099-C however, you can enter it using the FAQ below:

https://ttlc.intuit.com/replies/5107826

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1 Reply
LeeM
New Member

I settled a student loan with a balance of $980.46 for $490.23. Will I receive a 1099C for such a low amount?

Probably not, they are not required to file a Form 1099-C, Cancellation of Debt for a debt of less than $600.

If you do receive that 1099-C however, you can enter it using the FAQ below:

https://ttlc.intuit.com/replies/5107826

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