topic Do I have to file the 1099-C with a code G? in Retirement tax questions

Do I have to file the 1099-C with a code G?

ninfaturrubiate — Tue, 04 Jun 2019 19:19:07 GMT

What is a code G mean?

Yes, you have to file a 1099-C if you received one. (The...

KittyM — Tue, 04 Jun 2019 19:19:09 GMT

Yes, you have to file a 1099-C if you received one. (The IRS gets a copy of the form and will sooner or later send you a letter to collect tax due (if any), penalties and interest. You don't want this.) Code G states that the 1099-C was issued because of a "decision or policy to discontinue collection."

To enter your 1099-C,

In your open Federal Return, choose the tab for Wages & Income
Scroll down to the topic Less Common Income. (You may have to click Add more income and See a list to find it.)
Scroll to the very last item Miscellaneous Income, 1099-A, 1099-C and choose Start/Edit
This will open the screen for Miscellaneous Income. Scroll down again to Cancellation of debt (Form 1099-C) or the abandonment and/or acquisition of secured property (Form 1099-A) and Start/Edit
The first screen says Tell us about your canceled debt.
Choose the correct radio button and Continue to complete the interview.

Re: Yes, you have to file a 1099-C if you received one. (The...

Aileen34 — Tue, 23 Feb 2021 13:52:31 GMT

Why is this not just letting me amend my 2020 taxes to add 1099Cg

Re: Yes, you have to file a 1099-C if you received one. (The...

Irene2805 — Tue, 23 Feb 2021 14:21:02 GMT

The IRS hasn't yet finalized the amended return (1040X) for 2020. We expect it to be available in TurboTax the end of March.

For current information on forms availability please click on the applicable link below:

For information on amending your return please see the following TurboTax Help articles:

@Aileen34

Re: Do I have to file the 1099-C with a code G?

Dpurdiegrl — Mon, 13 Mar 2023 07:42:05 GMT

This was a government agency i worked for and made a mistake on my FERS Code

Re: Do I have to file the 1099-C with a code G?

HopeS — Mon, 13 Mar 2023 13:24:41 GMT

Assuming that you are concerned that the wrong code will impact your return. The amounts contributed to your FERS are not deductible on your return. During payout, a portion of each of your FERS distributions will be a non-taxable return of your original investment in the plan, so you won't be paying taxes twice on this money.

If this information does not help you, please post another question.

Please review the link below as well:

FERS Code

@Dpurdiegrl