PatriciaV
Expert Alumni

Retirement tax questions

Yes, the IRS generally considers canceled, forgiven, or discharged debt reported on Form 1099-C as taxable income, though there are exclusions and exceptions to the rule.

 

When you enter your 1099-C in TurboTax, we'll ask a series of questions to determine if some or all of your 1099-C debt can be excluded.

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