My husband is paying a debt consolidations company over $1100/month to negotiate with an pay off credit card debt. We received a 1099C from one of the credit card comp

[mary-P]

We are paying over $13,000/year to pay consolidation company

[Lisa995]

Sounds like you agreed to a reduced price on the debt that youre paying off...so that debt that the credit card companies canceled becomes income to you.

[Carl]

You have made two comments, and no question. I assume it's concerning the 1099-C? You have to pay tax on that money. Since you borrowed the money and now will not be paying it back, it's taxable income to you. You'll report it in the Less Common Income tab  under Personal Income, when you get to that point in the program.