You should have received a Form 1099-C for the cancellation of debt.
In the event you did not receive this form, you can enter the income under Less Common Income > Miscellaneous Income and select "Other Reportable Income".
To enter Form 1099-C:
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On the Tax Timeline, select "Federal Taxes"
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Select "Wages and Income" on the second menu bar
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Select the "Check for more income" button, then select "Skip to see all income" to expand the list.
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In the “Less Common Income” section, click “Show More” to view the list of income selections.
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Click “Start” next to “Miscellaneous Income, 1099-A, 1099-C”.
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Select “Start” next to “Cancellation of debt (Form 1099-C) or the abandonment and/or acquisition of secured property (Form 1099-A)”.
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On the next screen, select “I received a 1099-C for another type of debt, including a credit card, a car loan, a loan modification, or a mortgage on a second home”.
- Continue through the interview process to enter your data and finish.
