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  • Re: Have 1099-C's for cancelled credit card debt. negotiated with creditors & settled. The forgiven amount now is Income! Must i report 100% this year?
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Anonymous_
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Get your taxes done using TurboTax


@JumpinJohnny31 wrote:

Is there a chance to use form 982 to exclude from income?


Yes, if you are insolvent.

 

See https://turbotax.intuit.com/tax-tips/debt/guide-to-debt-cancellation-and-your-taxes/L9YsOVhgB

‎April 5, 2023 1:49 PM
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