1099-C Federal student loan

we are filing married-jointly. My disabled husband's student loan was cancelled, do we have to report it?
  • I am working on helping my boyfriend decided whether to apply for forgiveness.  At this point, he will very likely get it.  I am looking for what is typically in box 7 of the 1099 C, as this can be used for exclusion.  What is the fair market value of an education?  It is not like a house, which you can sell.
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Yes, you still have to report the amount on the 1099-C.  Even if you qualify for one of the exclusion clauses, you have to report the amount and then file for the exclusion.  For the list of qualifying events for exclusion, check out IRS Pub 4681 (Becoming disabled alone however, is not one of the exclusions/exemptions).
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