topic Re: Form 1099-c in Get your taxes done using TurboTax

Form 1099-c

Little18 — Thu, 18 Feb 2021 13:24:11 GMT

I chose turbo tax from the IRS free file options after 2 other providers charged to file with a 1099-C. I checked on the free file site for what forms are accepted by turbo tax and it included 1099-C. However when I tried to file it said I had to upgrade to a paid version

Re: Form 1099-c

HelenC12 — Thu, 18 Feb 2021 15:17:38 GMT

If your adjusted gross income (AGI) is $39,0000 or higher, you don't qualify for the IRS Free File Program delivered by TurboTax .

It's geared towards lower-income filers, regardless of tax return complexity, and is only offered through the IRS Free File Alliance (FFA) program. No upgrades are available.

In certain cases, you'll be able to exclude canceled, forgiven or discharged debt as taxable income. Although the IRS generally considers these as taxable income, 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.

Re: Form 1099-c

Little18 — Thu, 18 Feb 2021 20:01:02 GMT

I had no other income and it wouldn't let me fill out a 1099-c without upgrading to deluxe. The amount on the form is only $695

Re: Form 1099-c

JohnW152 — Thu, 18 Feb 2021 20:12:27 GMT

If a Form 1099-C showing $695 represents all of your income, you don’t need to file a return.

Please see the TurboTax Help article Do I need to file a federal return this year? for more information.

Re: Form 1099-c

Little18 — Thu, 18 Feb 2021 21:16:47 GMT

I know I don't need to file but I do for income based student loan payments. My question is why I have to pay to fill out a form that is listed under the free file description on the IRS website. Other preparers charge but they do not have this form listed as free in their description