VictoriaD75
Expert Alumni

Deductions & credits

You are not required to file the insolvency worksheet with your Tax Return, you should just keep it for your records in case the IRS requests it.

 

To enter a 1099-C, follow these steps:

  • Under the Federal menu, choose Wages & Income
  • Expand the menu for Less Common Income
  • Click Start/Revisit next to Miscellaneous Income, 1099-A, 1099-C
  • Click Start/Revisit next to Cancellation of debt (Form 1099-C) or the abandonment and/or acquisition of secured property (Form 1099-A)
  • Enter the information on the screens that follow
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