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Level 2
posted Feb 22, 2023 4:45:17 PM

Hello, I accidentally selected that I have a 1099-C while looking over stuff, and now I cant unselect that option. what do I do now?

I did not receive a 1099-C, and just want to clear that selection from the options. for some reason turbo tax does not allow you to uncheck it.

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1 Best answer
Expert Alumni
Feb 22, 2023 5:00:58 PM

According to the IRS, nearly any debt you owe that is canceled, forgiven or discharged becomes taxable income to you. You should receive a Form 1099-C, "Cancellation of Debt," from the lender that forgave the debt. 

Here’s how to remove Form 1099-C:

 

  1. Tap Tax Tools in the left column
  2. Then Tools
  3. Select Delete a Form in the center
  4. Find Form 1099-C and Canceled Debt Summary and delete both
  5. Tap Continue With My Return to get back to the interview mode

1 Replies
Expert Alumni
Feb 22, 2023 5:00:58 PM

According to the IRS, nearly any debt you owe that is canceled, forgiven or discharged becomes taxable income to you. You should receive a Form 1099-C, "Cancellation of Debt," from the lender that forgave the debt. 

Here’s how to remove Form 1099-C:

 

  1. Tap Tax Tools in the left column
  2. Then Tools
  3. Select Delete a Form in the center
  4. Find Form 1099-C and Canceled Debt Summary and delete both
  5. Tap Continue With My Return to get back to the interview mode