Home
Public Forum
Credit Reports
Apply For Cards
Credit Directory
Credit Overview
Credit Problems
Credit News
International
Credit Glossary
Purchase Books
Credit Laws
Business Credit
Merchant Accts
   

Re: 1099-C confusion


[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]

Posted by LadynRed (199.91.33.254) on January 15, 2003 at 14:25:24:

In Reply to: 1099-C confusion posted by JM on January 15, 2003 at 13:46:22:

Only certain banking/lending and gov't institutions can issue 1099-C's .. so your brother cannot.

However, he should be able to write off at least part of that 8K as a loss to help offset the 1099-C.

IF your brother can prove insolvency, then he may not have to claim that 1099-C at all. Obviously, the IRS makes that tough but not impossible.


Follow Ups:



Post a Followup

Name:
E-Mail:

Subject:

Comments:

Optional Link URL:
Link Title:


[ Follow Ups ]   [ Post Followup ]   [ Credit Forum Index ]

 

    Top Of Page

  

Copyright © 1999-2002 Enkephalos Web Design