Solved: 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 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.

posted

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:

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:

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