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Get your taxes done using TurboTax
You should check with the bank to be sure, but she probably will not be receiving any 1099-Cs. From the 1099-C instructions: Do not combine multiple cancellations of a debt to determine whether you meet the $600 reporting requirement unless the separate cancellations are under a plan to evade the Form 1099-C requirements.
More information on Cancelled Debt can be found in that link.
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‎February 10, 2025
10:28 AM
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