I am wondering how much must be settled on to get a 1099-C for canceled debt. I have heard $500 and I have heard $600.

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I am wondering how much must be settled on to get a 1099-C for canceled debt. I have heard $500 and I have heard $600.

According to the IRS, the amount is $600. For more information, please see: https://www.irs.gov/uac/about-form-1099c

"File this form for each debtor for whom you canceled $600 or more of a debt owed to you if:

you are an applicable financial entity, and
an identifiable event has occurred."

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