I am the creditor who issued a 1099-C to a debtor, to cancel debt they owed me. I can not find where to enter the deduction/credit on TurboTax Premier 2019.
I see where to enter a 1099-C if I was the debtor, but nowhere can I find the spot to show that I wrote off bad debt as a creditor.
Thank you in advance for any help.
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Please read this TurboTax answer on how to enter your nonbusiness bad debt in TurboTax.
For a non-business bad debt, you can claim a short-term capital loss by filing form 8949.
Please read this TurboTax article for more information.
Thank you for the reply.
So this would be something I have to manually add to my return? TurboTax doesn't ask a question about this scenario?
Please read this TurboTax answer on how to enter your nonbusiness bad debt in TurboTax.
Thank you Minh! That worked perfectly!
Tell TurboTax not to hide that question during the step-by-step process lol 😛
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