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moose0364
New Member

Where done enter debt consolidation fees on my tax forms?

I have 6,600 to report as income from debt consolidation and need to report fees Freedom charged to offset the income but can't figure out where to report it
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1 Reply
GeorgeM777
Expert Alumni

Where done enter debt consolidation fees on my tax forms?

You don't because those fees are miscellaneous fees and are no longer deductible.   The exception to this would be if your debt consolidation was done in connection with your business.  In that case, the fees would be a business expense and you would report them on Schedule C along with your other business expenses.  

 

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