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When amending 2020 federal tax return to add a 1099-C for personal debt, do I only add the 1099-C amount not previously reported or do I enter the total 1099-C amount?

The total 1099-C amount would include 1099-Cs already reported on original 2020 federal tax return.
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3 Replies
KrisD15
Expert Alumni

When amending 2020 federal tax return to add a 1099-C for personal debt, do I only add the 1099-C amount not previously reported or do I enter the total 1099-C amount?

Only the one not previously entered. 

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When amending 2020 federal tax return to add a 1099-C for personal debt, do I only add the 1099-C amount not previously reported or do I enter the total 1099-C amount?

Thanks. That is what I thought, but when I only add the 1099-C amount not previously reported, TurboTax indicates I'm due a refund? How can I be due a refund when the 1099-C amount added is taxable income?

When amending 2020 federal tax return to add a 1099-C for personal debt, do I only add the 1099-C amount not previously reported or do I enter the total 1099-C amount?

Adding a 1099-C would not result in a refund.  Something else is triggering the refund.  If you paid taxes on unemployment, or paid back the premium tax credit, then TurboTax is making adjustments for those payments that are no longer applicable.  

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