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pamelacrowe179
New Member

If I fill out the insolvency form, and prove insolvance will it carry through turbo tax and remove the tax on 1099 C?

 
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Ashby
New Member

If I fill out the insolvency form, and prove insolvance will it carry through turbo tax and remove the tax on 1099 C?

Yes, it will. It's a little bit of process, but it works the same as it did last year. Please read through the answer below to correctly fill out the insolvency worksheet and get the "income" excluded. It was written a year ago, but still valid.

https://ttlc.intuit.com/replies/6697734

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1 Reply
Ashby
New Member

If I fill out the insolvency form, and prove insolvance will it carry through turbo tax and remove the tax on 1099 C?

Yes, it will. It's a little bit of process, but it works the same as it did last year. Please read through the answer below to correctly fill out the insolvency worksheet and get the "income" excluded. It was written a year ago, but still valid.

https://ttlc.intuit.com/replies/6697734

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