The 1099-C form is specifically used to report income related to cancellation of debt. The IRS considers forgiven debt as income.
To enter your 1099-C:
- Open or continue your return
- Search for 1099-C or 1099C (lowercase also works)
- Select the Jump to link at the top of the search results
- On the Tell us about your canceled debt screen, select the type of canceled debt (main home or other) and then select Continue
- Go through the screens to answer any follow-up questions about your canceled debt
- Follow the instructions to enter info from your 1099-C
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