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New Member
posted Mar 22, 2025 6:30:42 AM

I am using Turbotax. I got Form 1099c from Vanguard for debt forgiveness. Apparently thats taxable too. How to enter this in Turbox. I am getting the right form

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1 Replies
Expert Alumni
Mar 22, 2025 6:33:06 AM

Yes, cancellation of debt is income

 

Here is how to enter this in TurboTax Online:

  • Navigate to Federal > Wages & Income > Miscellaneous Income, 1099-A, 1099-C > Start or Revisit
  • Proceed through the interview to enter the amount