I was sent 1099C document for cancelled debt/ settlement on debt that occurred in 2018. Would I need to report this on my taxes for this year? I already did my taxes.
I was sent 1099C document for cancelled debt/ settlement on debt that occurred in 2018. Would I need to report this on my taxes for this year? I already did my taxes.
Yes, you will need to report this income. If your return has already been accepted by the IRS, then you will need to file an amended return. However, you will not be able to amend the return until Form 1040X is available. Please view the TurboTax FAQ below for more information.
I was sent 1099C document for cancelled debt/ settlement on debt that occurred in 2018. Would I need to report this on my taxes for this year? I already did my taxes.
Yes, you will need to report this income. If your return has already been accepted by the IRS, then you will need to file an amended return. However, you will not be able to amend the return until Form 1040X is available. Please view the TurboTax FAQ below for more information.
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