I have a 1099- C is it mandatory to put in when I am filling for my taxes?

395fd9163dfb · ‎January 29, 2024

PatriciaV · ‎January 29, 2024

Yes, the IRS generally considers canceled, forgiven, or discharged debt reported on Form 1099-C as taxable income, though there are exclusions and exceptions to the rule.

When you enter your 1099-C in TurboTax, we'll ask a series of questions to determine if some or all of your 1099-C debt can be excluded.

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PatriciaV · ‎January 29, 2024

Yes, the IRS generally considers canceled, forgiven, or discharged debt reported on Form 1099-C as taxable income, though there are exclusions and exceptions to the rule.

When you enter your 1099-C in TurboTax, we'll ask a series of questions to determine if some or all of your 1099-C debt can be excluded.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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I have a 1099- C is it mandatory to put in when I am filling for my taxes?