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Yes, you have to file a 1099-C if you received one. (The IRS gets a copy of the form and will sooner or later send you a letter to collect tax due (if any), penalties and interest. You don't want this.) Code G states that the 1099-C was issued because of a "decision or policy to discontinue collection."
To enter your 1099-C,
Please read this unofficial legal source to determine if you have future responsibilities to pay this debt. You do need to report this 1099C as income on your return.
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