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Sandi Hargrove, SkyHawks
Sandi Hargrove, SkyHawks, Master Tax Advisor, Enrolled Agent
Category: Tax
Satisfied Customers: 1257
Experience:  I am a Master Tax Advisor and Enrolled Agent. I have 40 years experience. Trucking specialist.
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My husband (29 years) and I BOTH received a 1099-C; his had ...

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My husband (29 years) and I BOTH received a 1099-C; his had is SSN and Name at the same address as mine. I too received a 1099-C with my SSN, Name and same address. Both copies of the 1099-C's had the same amount of money for a cancellation of debt, $32,205. House was sold via short-sale after a year on a slow market. At no time did we separate, divorce or whatever else that would have indicated a reason for two people owing the same debt. The mortgage company's comment was to send both documents in with our 1040. Our CPA and attorney both say TWO 1099-c's are incorrect and should be replaced with ONE, corrected 1099c including both of our names, husband's (primary) SSN, and one total of the above stated $32,205. We cannot find anywhere on our settlement sheet (issued by the mortgage company and states PAID IN FULL ...) the amount above. We are concerned the IRS will come back to collect another, unpaid 1099c in my name?
Submitted: 7 years ago.
Category: Tax
Expert:  Sandi Hargrove, SkyHawks replied 7 years ago.
You should have 2 1099C issued if the total cancelled debt was 64,410 and this amount was divided equally. Generally 1 1099C is issued to married persons who were joint owners/debtors.
Customer: replied 7 years ago.

Hi Sandy - Thanks for your information but we must have just ONE 1099-C listing both names on one forms. The mortgage company has stated that the TOTAL amount of cancelled debt is $32,205. Herein lies our very large problem: The mortgage company states that they will NOT resend a corrected 1099-C with both of our names and the correct amount of cancelled debt of $32,205.

If they insist on keeping the 1099-Cs as is, then they need to reissue two 1099-C's with an amount on each 1099-C of $16,103 and not $32,205 ... How can we make the mortgage company "do the right thing" and right this wrong. We've been told this is no longer an IRS problem but a legal problem whereby an attorney will need to use other means of persuading the mortgage company to resubmit the corrected 1099-C.

Expert:  Sandi Hargrove, SkyHawks replied 7 years ago.

Attach a copy of each 1099C to your return and a statement explaining that the total cancelled debt is 32,205 for the transaction instead of 64,410. Also state that the company refused to correct the document after your request.

File your return as it should be done using the correct amount instead of the doubled figure.

Let IRS correct the company.

Sandi Hargrove, SkyHawks, Master Tax Advisor, Enrolled Agent
Category: Tax
Satisfied Customers: 1257
Experience: I am a Master Tax Advisor and Enrolled Agent. I have 40 years experience. Trucking specialist.
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