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Retirement tax questions
For a 1099-C, your husband's Estate may be responsible to report this income. But there may be no Estate. You might be considered to be responsible for this income, if you are considered liable for any portion of this debt, such as if you live in a community property state.
On the other hand, this type of income can be nontaxable if the taxpayer was insolvent. The issue can be complicated. If the amount of the 1099-C is significant, I strongly recommend that you consult a tax professional in your area for advice.
On the other hand, this type of income can be nontaxable if the taxpayer was insolvent. The issue can be complicated. If the amount of the 1099-C is significant, I strongly recommend that you consult a tax professional in your area for advice.
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May 31, 2019
10:35 PM