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How can I include form 1099-C

 
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How can I include form 1099-C

Yes, if you have a 1099-C you must declare income from the forgiveness of debt.  A cancellation of debt is considered taxable income to the extent of the debt that you were forgiven.  Generally, your lender will issue you a 1099-C showing the taxable amount you should report on your return.  

To enter your 1099-C,

  • In your Federal Return, choose the tab for Wages & Income
  • Scroll down to the topic Less Common Income.  (You may have to click Add more income and See a list to find it.)
  • Scroll to the very last item Miscellaneous Income, 1099-A, 1099-C and choose Start/Edit
  • This will open the screen for Miscellaneous Income.  Scroll down again to Cancellation of debt (Form 1099-C) or the abandonment and/or acquisition of secured property (Form 1099-A) and Start/Edit
  • The first screen says Tell us about your canceled debt.  
  • Choose the correct radio button and Continue to complete the interview.

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