Hi, I received form 1099-C from my stock broker. Box 4 debt description is negative equity write off. Box 5 was not checked (if checked, the debtor was personally liable for repayment of the debt). Box 6 identifiable event code is G. Box 7 Fair market value of property is 0. My question is the discharged debt taxable in my case? I would be in the hook for a huge tax bill if this is taxable. Thank you!
