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Even if the card was an old card, when the debt is canceled the IRS considers that debt that was cancelled, forgiven, or discharged becomes taxable income.  You will need to report this as income on your tax return.     There are some cases in which the debt might not be taxable, like if it was discharged in a Title 11 bankruptcy proceeding, such as a Chapter 7 or Chapter 13 case.  Also if you can demonstrate to the IRS that you were insolvent at the time the debt was cancelled.     When to Use Tax Form 1099-C for Cancellation of Debt Guide to Debt Cancellation and Your Taxes

Do you have an amount on 1040 line 6b or is it 0?  What usually happens is the IRS changed some other income on your return. Like the taxable amount of a 1099R you got or you missed entering some income. Like if a 1099R got entered on the wrong line 1040 line 4 or 5, the IRS would miss it and think you didn’t report it. By increasing your other income it made more of your SS taxable.   Or There is a new question this year asking if you lived in a foreign place. People have been answering it wrong or skipping it. Go back through the Social Security entries.

Yes, you will need to amend. DD is for health insurance, which will not make a difference, but code V represents income from the exercise of non-statutory stock options.    If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.    You must first wait until the initial return is completely processed. You will have to use the same TurboTax account that you used for the original tax return. Once you begin your amendment, you'll see your original return. The refund calculator will start new at $0 and only reflect the changes in the refund or tax due Only make changes to the areas of your return that need to be corrected. You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download 

For me, after 30+minutes, it started.  When I started TurboTax2024, Win 11, it downloaded the update and then  had the blank white screen that would never fully open.  I just left it, and 30+ minutes later, just now, it started.  For me, it was working yesterday and has been running fine for many weeks.  I have completed 4/5 tax returns.  One left!

Here's where you can check your status:  How to Check your E-file Status   If you Illinois return was rejected, know that the state does have requirements for you to enter an 8 digits PIN and verify your IL drivers license or state ID number. You can verify your IL PIN at https://www.revenue.state.il.us/app/pini/servlet/PINInquiry 

Are you sure about including this on Schedule C? Just checking because I've read elsewhere that since these are local net income taxes (aside from the mandatory $100 minimum for the Portland Business License Tax), they should only be deducted on Schedule 1 if itemizing.   This is confusing, however, because all of these local business/self-employed taxes are required for doing business in Portland, which makes me think they are business expenses themselves.   Thank you for any help/clarification.

If you have received a letter from the IRS telling you that your income calculation was wrong then you can either    a) pay the amount due on the notice or    b) go into the system and make the changes to your tax return that the IRS letter says you should have made originally and see if the changes agree with what they are saying (they usually do).   @skp0815