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dfaulk83
New Member

How do I determine insolvency when i have more than on 1099-c issued on different dates? do i complete the worksheet on each date that the 1099-c is issued?

 
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Phillip1
New Member

How do I determine insolvency when i have more than on 1099-c issued on different dates? do i complete the worksheet on each date that the 1099-c is issued?

Yes.

The insolvency worksheet would need to be completed for each date from separate 1099-Cs. This is due to the fact that the insolvency amount would have changed after each date that debt was cancelled.

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4 Replies
Phillip1
New Member

How do I determine insolvency when i have more than on 1099-c issued on different dates? do i complete the worksheet on each date that the 1099-c is issued?

Yes.

The insolvency worksheet would need to be completed for each date from separate 1099-Cs. This is due to the fact that the insolvency amount would have changed after each date that debt was cancelled.

dfaulk83
New Member

How do I determine insolvency when i have more than on 1099-c issued on different dates? do i complete the worksheet on each date that the 1099-c is issued?

Turbo Tax is not giving the option to add individual 1099-Cs - how is it done? Also, how do you access the Insolvency worksheet.
jasond1014
New Member

How do I determine insolvency when i have more than on 1099-c issued on different dates? do i complete the worksheet on each date that the 1099-c is issued?

Would I need to file multiple 982’s if I have multiple 1099-c’s?  If so how do I do that?
shmince
New Member

How do I determine insolvency when i have more than on 1099-c issued on different dates? do i complete the worksheet on each date that the 1099-c is issued?

I have the desktop version Home and Business 2021. In this version we go to View > Forms > Open Form > Type a form name.  Here, you'll type 1099-c > click on the form > Open Form. At the bottom of the 1099-c you'll see a series of QuickZoom buttons. The top links you to a window where you can create another 1099-c. There is also an empty field that will allow you to create another worksheet simply by double-clicking the empty field.

 

If you've been using the Step-by-Step view to input your cancelled debt that you totaled from all of you 1099-c's, you may have to go back to that view and delete the amount you've entered before entering it manually in the form view (or it may not allow you to edit your totaled amount).

 

Hope that helps.

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