I made no payments or contact with card company and this has even fallen off my credit report. The issue is Discover card is showing the date of event as of 12/31/17 but I would have benefited from this income in 2008. I have old credit report showing no activity in this card for multiple years how do I address this since its been 9 year now?
It depends on the lender when they issue the form. The debt is considered cancelled once your lender/creditor no longer expects for that money to come and they close their books. Although they normally would have issue the 1099-C earlier, this is the year that they have closed their books on this debt and are notifying you AND the IRS of the cancellation.
There is no amendment or adjustment to make. Simply enter the 1099 as printed and follow the TurboTax interview.
If you are insolvent, here is some good info on that: