Hello!
Husband and I received several 1099-C (s) for discharge of credit card debt. Some are in his name, and some in my name, and we are MFJ. I know how to complete the insolvency worksheet, and I know for certain we are insolvent. My Turbo Tax edition is the downloaded file from Turbo Tax that I work on from my desktop.
- In Turbo Tax, do I enter one Form 982 for the total of all of the 1099-C (s) together?
- And for the insolvency worksheets, I will need to do a unique insolvency worksheet for each 1099-C, to accurately show our financial status the day before the debt was cancelled. Is that right? Also, I had a business credit card that I also did a 1099-C. On my tax account transcript, it doesn't show the 1099-C. I do need to double check tomorrow and make sure I didn't go ahead and just pay them in full at the last minute. However - just in case there was a business card in the mix, do business issue a 1099-C or is it reserved only for personal accounts? All of mine showed up on my online IRS transcript, but not this one.
Thank you so much for your time and patience with me...I appreciate it.
