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Can I exclude my 1099-C from my taxable income?

SOLVEDby TurboTax1850Updated December 13, 2023

In certain cases, yes. Although the IRS generally considers canceled, forgiven, or discharged debt as taxable income, there are exclusions and exceptions to the rule.

When you enter your 1099-C in TurboTax, we'll ask a series of questions to determine if some or all of your 1099-C debt can be excluded.

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