Re: 1099 question
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Posted by Why Chat (209.240.198.61) on September 14, 2003 at 01:43:03:
In Reply to: 1099 question posted by Becky on September 13, 2003 at 21:09:24:
If this is a fairly new debt, and it was assigned,(not sold) to the CA, and they turned it back to the OC, and the OC decided to "forgive" the debt, then it is true you MIGHT be liable for taxes on the forgiven debt. Because there IS a possibility of this occurring, the CA is required to print this warning.
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