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Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 2654
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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IRS notice referenced 1099c I did not receive

Customer Question

***** *****. IRS notice referenced 1099c I did not receive
JA: Thanks. Can you give me any more details about your issue?
Customer: Credit card debit cancelled by Chase Bank for 2013. Notice from IRS received in 2015. Did not respond.
JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 6 months ago.
Category: Tax
Expert:  Barbara replied 6 months ago.
Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.You will need to amend your 2013 tax return to include the 1099-C as income. The IRS considers any debt that is cancelled as taxable income unless you can exclude it by using Form 982 (i.e., due to insolvency).,-Reduction-of-Tax-Attributes-Due-to-Discharge-of-Indebtedness-(and-Section-1082-Basis-Adjustment)Please let me know if I can assist you further.Thank you and best regards,Barb

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