ThomasM125
Employee Tax Expert

Get your taxes done using TurboTax

Form  1099-C is used to report a cancellation of debt. It is considered taxable income in many cases. Your creditor is the only one who can provide that form to you.

 

You have to be careful about reporting the cancellation of debt without receiving a formal notice from the creditor, as it may not have been officially cancelled, in which case you don't need to report the cancellation.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"