1099-c

can a credit card company file in court on my debt ,then do nothing in court , and years later 1099 me .

do they have a set amount of time to 1099 me

like after statute of limitations has passed

and what if the amount discharged is wrong and they dont list the interests in the amount , in box 3

thanks for your help

Employee Tax Expert

Mar 22, 2021 10:02:30 AM

As long as a debt has never been paid or canceled and you have never included it in your income, there's no statute of limitations on when a lender has to submit a 1099-C. If nothing was resolved in court, then it is likely they officially wrote off your debt in 2020.

If the amount discharged is incorrect, then it is suggested to call the IRS (1-800-829-1040 ) and describe your situation to the IRS agent. The IRS can assist you in filling out Form 4598. This form can be used for an incorrect 1099.

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1099-c