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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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Experience:  10 years experience
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If I am forgiven debt on a home improvement loan for my

Customer Question

If I am forgiven debt on a home improvement loan for my primary residence, do I get a 1099c ? Does the lender automatically hold a lien on my home?
Submitted: 4 months ago.
Category: Tax
Expert:  Mark Taylor replied 4 months ago.

Hi my name is Mark. I will be happy to help you with your questions.

Expert:  Mark Taylor replied 4 months ago.

Yes, you will likely receive a 1099-C for the cancellation of debt.

Expert:  Mark Taylor replied 4 months ago.

You mentioned that this is your primary residence.

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