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New Member
posted Feb 20, 2025 9:38:05 PM

If I got a 1099c on something paid through collections last year & now I owe due to that but just recently filed bankruptcy.. is there anything I can do to not owe?

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1 Replies
Expert Alumni
Feb 21, 2025 7:44:12 AM

Yes, you can claim insolvency.  See below for the instructions on how to do this in TurboTax. 

 

How do I report excludable (non-taxable) canceled debt?