Regardless of when the 1099-C arrives, if the debt was canceled in 2016, you have to include it with that year’s return, Greene-Lewis said. Here’s what you can do if you’ve already filed.

You might receive this document if you have freelance work, investment income, retirement distributions or other financial transactions.

1099-C – Cancelled debt, such as forgiveness of mortgage debt, is considered a taxable benefit – just as if the creditor had paid you the amount of money to turn around and pay them back. 1099 ...

Do not ignore IRS Form 1099-C. Report and claim any applicable exclusion.

1099-C Many lenders who complete a 1099-A will also need to file a 1099-C. This details the fact that some or all of a loan has been written off.

If you received a 1099-C tax form in the mail, you might be wondering where it came from and why it exists. You typically get this form when you s ...

The Tax Court, in a recent summary opinion, ruled that an individual did not have cancellation of debt income in the year that a collection agency issued him a Form 1099-C and stopped its automated ...

In a previous post, I discussed ways to avoid paying taxes on income reported on Form 1099-C, Cancellation of Indebtedness. In this post, I will focus specifically on 1099-A forms.

The IRS issued guidance telling lenders they should not file Form 1099-C, Cancellation of Debt, or furnish a payee statement to the borrower when a Paycheck Protection Program loan is forgiven.