PatriciaV
Employee Tax Expert

Get your taxes done using TurboTax

In general, Form 1099-A is informational and is used if and when you receive Form 1099-C to report any gain or loss on the cancellation of debt. Form 1099-A does not include the amount of debt that was cancelled. So you need the information on Form 1099-C in order to report the transaction. For this reason, TurboTax does not support any entries for Form 1099-A by itself.
If you are still concerned about what and how to report this transaction, we recommend contacting a local tax professional who may be more familiar with your complete financial situation.
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