In certain cases, you can exclude your 1099-C from your taxable income. Although the IRS generally considers canceled, forgiven, or discharged debt as taxable income, there are exclusions and exceptions to the rule.
When you enter your 1099-C in TurboTax, we'll ask a series of questions to determine if some or all of your 1099-C debt can be excluded.
Can I exclude my 1099-C from my taxable income?
How do I enter a 1099-C?
Is canceled, forgiven, or discharged debt taxable?
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