turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Do I enter the amount of debt forgiven from a 1099 c in the state section too? Specifically where it says "Additions to federal income"

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DawnC0
Intuit Alumni

Do I enter the amount of debt forgiven from a 1099 c in the state section too? Specifically where it says "Additions to federal income"

Not necessarily.  If you entered it into your federal return, it will roll over into your state return.   Each state has different rules for the inclusion of cancelled debt.   The amount may be taxable on your federal return but not on your state return and vice versa.  You will need to check with your state's Department of Revenue to verify the proper tax treatment of your debt cancellation on your state tax return.  

[Edited 03/14/20]

View solution in original post

2 Replies
DawnC0
Intuit Alumni

Do I enter the amount of debt forgiven from a 1099 c in the state section too? Specifically where it says "Additions to federal income"

Not necessarily.  If you entered it into your federal return, it will roll over into your state return.   Each state has different rules for the inclusion of cancelled debt.   The amount may be taxable on your federal return but not on your state return and vice versa.  You will need to check with your state's Department of Revenue to verify the proper tax treatment of your debt cancellation on your state tax return.  

[Edited 03/14/20]

Do I enter the amount of debt forgiven from a 1099 c in the state section too? Specifically where it says "Additions to federal income"

Thanks for the reply. What confused me is when  I added it into the federal it said "You may have to add the amount of your debt  forgiveness on your state return" And then in the state section there is a  question about "Additions to federal income". So if there is nothing in it, I dont add the amount of the debt forgiveness correct?
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies