I received a 1099C form. Where do I go in my tax return to add this information?

[ModestaL]

If your debt is cancelled or forgiven, you'll receive Form 1099-C (Cancellation of Debt). Most of the time, cancelled debt is taxable, but there are exclusions and exceptions. We'll check for those after you've entered your 1099-C.

To enter your Form 1099-C in TurboTax, please follow the steps below: 

• Sign in to TurboTax (if you're not already signed in).
• Click on the Take me to my Return button
• Click on the Federal Taxes tab
• Click on the Wages and Income tab
• Scroll down to Less Common Income
• Click Start on Miscellaneous Income, 1099-A, 1099-C 
• Click Start on Cancellation of debt (Form 1099-C) and continue through the Interview questions.

Note: If you received a 1099-C for your main home and another 1099-C for something else (credit card, car loan, second mortgage, etc.) you won't be able to use TurboTax, as the interview doesn't support this.

[snoopyjr422]

i recieved a 1099c and i need to enter it in my return thats already signrd

[JohnW152]

If you haven't submitted your return for e-file yet, please follow the steps below: 

• Sign in to TurboTax (if you're not already signed in).
• Click on Pick up where you left off
• Click on Federal tab in the left pane
• Click on the Income & Expenses tab
• Click on Add More Income
• Scroll down to Less Common Income, click Show more dropdown
• Click Start on Miscellaneous Income, 1099-A, 1099-C 
• Click Start on Cancellation of debt (Form 1099-C) and continue through the Interview questions

If you’ve already submitted your return and it doesn’t reject through e-file, you’ll need to amend your return.  Please see the TurboTax Help article How to amend (change or correct) a return you already filed for instruction on how to amend your previously-filed tax return.

[khai_le_nc1]

TurboTax (Home & Business version) does not allow me to enter 1099 C form for a cancelled debt

Any advice on how to resolve this problem?

Thanks!

[ThomasM125]

@khai_le_nc1 You would enter your cancelled debt income as follows in TurboTax:

1. Income and expenses
2. Less Common Income
3. Miscellaneous Income, 1099-A, 1099-C
4. Cancellation of debt (form 1099-C) or the abatement and/or acquisition of secured property (Form 1099-A)