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lo181987
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I received a 1099C form (credit card debt forgiveness) and have questions on what to do with it next.

 
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3 Replies

I received a 1099C form (credit card debt forgiveness) and have questions on what to do with it next.

To enter a Form 1099-C

  • Click on Federal Taxes (Personal using Home and Business)
    Click on Wages and Income (Personal Income using Home and Business)
    Click on I'll choose what I work on (if shown)
    Scroll down to Less Common Income
    On Miscellaneous Income, 1099-A, 1099-C, click the start or update button

On the next screen, on Cancellation of debt (Form 1099-C) or the abandonment and/or acquisition of secured property (Form 1099-A), click the start or update button


Or enter 1099-c in the Search box located in the upper right of the program screen. Click on Jump to 1099-c

lo181987
New Member

I received a 1099C form (credit card debt forgiveness) and have questions on what to do with it next.

Do I need to amend my return?

I received a 1099C form (credit card debt forgiveness) and have questions on what to do with it next.

If you received the Form 1099-C for 2018 and did not include the tax data from the form on the 2018 tax return filed with the IRS then you will need to amend 2018 return to include the 1099-C.

 

See this TurboTax support FAQ for amending a 2018 tax return originally completed and filed using TurboTax - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-a-return-in-turbotax/01/27579

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