Solved: What do you do when the bank sends 1099C to both parties involved with a cancellation of debt for the same amount which doubles the forgiven debt?

What do you do when the bank sends 1099C to both parties involved with a cancellation of debt for the same amount which doubles the forgiven debt?

There is one debt - two names on the loan but the bank has issued 2 1099C for the same debt?

posted

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.

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I want to go back and cancel a tax break, the one about being involved in a natural disaster. But there is no option to remove it and I cannot file unless it is removed or resolved.

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What do you do when the bank sends 1099C to both parties involved with a cancellation of debt for the same amount which doubles the forgiven debt?

What do you do when the bank sends 1099C to both parties involved with a cancellation of debt for the same amount which doubles the forgiven debt?

What do you do when the bank sends 1099C to both parties involved with a cancellation of debt for the same amount which doubles the forgiven debt?

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What do you do when the bank sends 1099C to both parties involved with a cancellation of debt for the same amount which doubles the forgiven debt?

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What do you do when the bank sends 1099C to both parties involved with a cancellation of debt for the same amount which doubles the forgiven debt?

What do you do when the bank sends 1099C to both parties involved with a cancellation of debt for the same amount which doubles the forgiven debt?

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