Re: 1099-c trouble

Posted by Taziblue (67.25.26.151) on February 02, 2004 at 10:28:48:

In Reply to: 1099-c trouble posted by lostroman on February 02, 2004 at 08:55:26:

1099C is forgiveness of debt. If you received one, then you must file with the IRS- however, if you were insolvent during the year of the discharge of debt (ex 2003)- then you can file a form with the IRS stating insolvency which means you do not have to pay taxes on that amount.

See WhyChat's website for more or go to

www.irs.gov and go to forms-search 1099C- you will find all the necessary forms there.

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