I never received a 1099C form from two creditors despite settling debts with them middle of last year. Will the 1099C come for next year instead?

I settled three credit card debts in 2022 and it is now March of 2023 and two of the three have not sent 1099C forms. One claims they have mailed it but I've asked twice now and it still never showed (I called in mid-February). The other claims they do not see one generated for me on their end and suggested it was because the settlement was agreed upon in August 2022 so the form might not come until 2024? Should I continue to wait until closer to April for either of these two forms or is it safe to go ahead and file?

448

Level 15

Mar 10, 2023 1:02:33 PM

Only they can tell you. Box 1 of form 1099-C is the "date of identifiable event", in your case, the date the settlement was agreed to and the amount of forgiven debt determined. I can't find a due date in the IRS instructions, I may be looking in the wrong place, but other web sites claim the deadline for submitting a 1099-C is March 31.

In any case, you are required to report your canceled debt even if you don't get a form. If you later get the form. you won't have to report it again.

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I never received a 1099C form from two creditors despite settling debts with them middle of last year. Will the 1099C come for next year instead?