There is one debt - two names on the loan but the bank has issued 2 1099C for the same debt?
You'll need to sign in or create an account to connect with an expert.
The issuer is required to let both parties know abut the debt forgiveness, same as they do for a married couple. They cannot rely on one of you to tell the other. It doesn't double the debt at all. Either one of you can claim it or pay it.
The issuer is required to let both parties know abut the debt forgiveness, same as they do for a married couple. They cannot rely on one of you to tell the other. It doesn't double the debt at all. Either one of you can claim it or pay it.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
mehtaym
Level 2
dcturnbull
Returning Member
ashstephen2012
New Member
oldradio99
Level 2
zshahan
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.