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Level 1
May 2, 2021
Question

bad debt write off

  • May 2, 2021
  • 1 reply
  • 73 views

How do I write off a bad debt in turbo tax.  I am looking for the process to enter the form. 

1 reply

Alumni - Champ
May 2, 2021

Exactly what type of bad debt, and was it personal or business?

Level 2
February 15, 2022

student loans

Level 15
February 15, 2022

@frapp49 If you mean you had a student loan that was cancelled, it will be reported to you on a form 1099-C. You enter that in TurboTax in the Wages and Income Section, then Less Common Income, then Miscellaneous Income, 1099-A, 1099-C. Choose the Cancellation of debt (Form 1099-C) option and then follow the instructions.

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