https://ttlc.intuit.com/community/after-you-file/discussion/i-got-a-1099-c-for-a-personal-loan-does-that-mean-i-don-t-have-to-pay-it-back-or-i-only-have-to-pay/01/3164299#M729145 I received it for a loan that was supposed to be settled. The settlement company says it’s not settled on their end but I got a 1099c for it. They can’t tell me that if there is a settlement, do I need to pay back the settlement amount, or do I not need to pay it at all? If there is a settlement, and it’s not paid, what could happen? How does it affect my taxes? I’m so confused Wed, 11 Feb 2026 04:35:04 GMT aashleyy1997 2026-02-11T04:35:04Z https://ttlc.intuit.com/community/after-you-file/discussion/i-got-a-1099-c-for-a-personal-loan-does-that-mean-i-don-t-have-to-pay-it-back-or-i-only-have-to-pay/01/3164299#M729145 I received it for a loan that was supposed to be settled. The settlement company says it’s not settled on their end but I got a 1099c for it. They can’t tell me that if there is a settlement, do I need to pay back the settlement amount, or do I not need to pay it at all? If there is a settlement, and it’s not paid, what could happen? How does it affect my taxes? I’m so confused Wed, 11 Feb 2026 04:35:04 GMT https://ttlc.intuit.com/community/after-you-file/discussion/i-got-a-1099-c-for-a-personal-loan-does-that-mean-i-don-t-have-to-pay-it-back-or-i-only-have-to-pay/01/3164299#M729145 aashleyy1997 2026-02-11T04:35:04Z https://ttlc.intuit.com/community/after-you-file/discussion/re-i-got-a-1099-c-for-a-personal-loan-does-that-mean-i-don-t-have-to-pay-it-back-or-i-only-have-to/01/3164348#M729156 <P>whether the settlement company can still go after you for the unpaid amount is a legal question, not an income tax question. consult a lawyer. however, that form represents income&nbsp; - forgiveness of debt - that needs to be included on your income tax return.</P> <P>&nbsp;</P> <P><SPAN>in 2016, an IRS rule allowed debt collectors to file a 1099-C after&nbsp;</SPAN><STRONG>36 months</STRONG><SPAN>&nbsp;of no payment.</SPAN></P> Sun, 04 Feb 2024 01:05:02 GMT https://ttlc.intuit.com/community/after-you-file/discussion/re-i-got-a-1099-c-for-a-personal-loan-does-that-mean-i-don-t-have-to-pay-it-back-or-i-only-have-to/01/3164348#M729156 Mike9241 2024-02-04T01:05:02Z https://ttlc.intuit.com/community/after-you-file/discussion/re-i-got-a-1099-c-for-a-personal-loan-does-that-mean-i-don-t-have-to-pay-it-back-or-i-only-hav/01/3165227#M729316 <P>As <SPAN style="color:var(--ck-color-mention-text);"><a href="https://ttlc.intuit.com/community/user/viewprofilepage/user-id/2798147">@Mike9241</a></SPAN> stated above, We do not address legal issues, &nbsp;However, a 1099-C may represent a taxable income.</P><P>&nbsp;</P><P>The 1099-C is forgiveness of debt, and it can increase your taxes.</P><P>The procedure below is not for home foreclosure forgiveness of dept like credit card debt.</P><P>&nbsp;</P><P>To post a 1099-C</P><OL><LI>Log into TurboTax</LI><LI>Go to <STRONG>Wages &amp; Income</STRONG></LI><LI>Scroll to <STRONG>Less Common Income</STRONG></LI><LI>Select <SPAN style="color:rgb(33,38,42);font-size:14px;"><STRONG>Miscellaneous Income, 1099-A, 1099-C</STRONG></SPAN></LI><LI><SPAN style="color:rgb(33,38,42);font-size:14px;">Scroll down to <STRONG>Other reportable income</STRONG></SPAN></LI><LI><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;"><STRONG>Any Other Taxable Income?</STRONG> Yes</SPAN></LI><LI><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">Enter the value on the 1099-C</SPAN></LI></OL><P><SPAN style="color:hsl(0,0%,0%);font-size:14px;">If I've misunderstood your question, and this does not completely answer it, please contact us again and provide some additional details.</SPAN></P> Sun, 04 Feb 2024 16:52:17 GMT https://ttlc.intuit.com/community/after-you-file/discussion/re-i-got-a-1099-c-for-a-personal-loan-does-that-mean-i-don-t-have-to-pay-it-back-or-i-only-hav/01/3165227#M729316 JohnB5677 2024-02-04T16:52:17Z