Application of 1099 C
Date: Wed, 03/23/2011 - 02:56
Application of 1099 C
What is 1099c and when does it apply?
1099-C is an IRS tax form dealing with cancellation of debt. If
1099-C is an IRS tax form dealing with cancellation of debt. If your lender/creditor forgives any of your debts, then he/she will send you the 1099c form and you will have to include it when you file your taxes.
You can also check out the following site to know more about 109
You can also check out the following site to know more about 1099c.
"www.irs.gov/pub/irs-pdf/f1099c.pdf"
There's a form you can download from the IRS website to deal wit
There's a form you can download from the IRS website to deal with the 1099c. If you can prove you were insolvent at the time you did the settlements, you won't have to claim the forgiven amount as income. Read up on the information at the website that good nelly provided.
