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Topic: Credit Card---cancellation of debt. Today, 04/27/22, I received a 1099 (cancellation of debt) from a credit card issuer for 2021.
They attempted to send it in February, but the address on file was not valid. I have already filed taxes for 2021. What shall I do--amend my taxes or wait until 2022? I also read something about insolvency but not quite familiar with this. Can you explain? I have more than $80,000 in debt, which includes student loans, this card and others. I currently receive SSI but attempts to earn a little throughout the year. I have not earned $1000 in the last two years.
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‎April 27, 2022
8:24 AM