I have a 1099-c with a discharged amount of 0.00 (box 2) and with a fair market value of property (box 7) at $26,000. Do i have to file the 1099-c?

[MichaelL1 · Accepted solution]

No there is nothing to file for you on this as no taxable income.  You have $0 income so nothing to do, other than file the 1099C with your tax records.

"If a creditor has discharged a debt you owed, you are required to include the discharged amount in your income, even if it is less than $600, on the “Other income” line of your Form 1040"