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1099 c will I have to pay next year as well

 
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JohnB5677
Expert Alumni

1099 c will I have to pay next year as well

Your 1099-C is for cancellation of debt.  The IRS says that if you borrow money and don't repay it it is considered income in that year.  If you do not have any other cancelled debt in 2020, you will not pay extra taxes from the one you had in 2019.

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