DaveF1006
Expert Alumni

Retirement tax questions

@thetav101. To clarify, the 1099-C is a cancellation of debt from Discover Card?  Are you saying you paid the debt?? If not, then the amount of the 1099-C is taxable income.

 

If this is the case, it is not necessary for IRS to know the TIN for Discover Card nor do they care that you paid the debt. Discover Card canceled your debt, issued the 1099-C, and now you need to report it as taxable income.

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