Do i have to enter 1099c cancellation of debt

[samantha-r292]

is it necessary?

[DoninGA · Accepted solution]

Yes the Form 1099-C is required to be entered on your tax return for the tax year received.

To enter a Form 1099-C

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Less Common Income
• On Miscellaneous Income, 1099-A, 1099-C, click the start or update button

On the next screen, on Cancellation of debt (Form 1099-C) or the abandonment and/or acquisition of secured property (Form 1099-A), click the start or update button

Or enter 1099-c in the Search box located in the upper right of the program screen.  Click on Jump to 1099-c