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My wife passed on 18 My wife died on 18 2018. My wife died
My wife died in 18 Jan 2018 and over the next few months I discovered four credit cards/loans in her name. I contacted the cards and provided her death certificate. They said that her debt would be forgiven. … read more
Gerald, Esq
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I just got a letter from the IRS that I owe more money from
Hi I just got a letter from the IRS that I owe more money from last year's taxes due to a 1099C that I did not include. I never received this 1099 which was the result of my now wife having a car repo… read more
Robin D.
Robin D.
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This is a Tax question. I have been married 6 years. We were
This is a Tax question. I have been married 6 years. We were married in July of 2011. I have a small sole proprietary service business in California with no employees.. business declined rapidly for o… read more
Robin D.
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Do I have to pay tax on cancelled credit card debt?
I received a 1099C for my deceased wife (died 10/8/14) from BoA for cancellation of a credit card debt. date: 9/30/16, Identifiable Code: G. The 1099 is in her name. We had separate accounts at differ… read more
socrateaser
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My client's husband died on December 2013. She received 3
My client's husband died on December 2013. She received 3 cancellation of Debt forms 1099C for 2015 with event code G. Does she need to claim this as income?… read more
emc011075
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Tax payment options/question My friend owes $250 to Illinois
Tax payment options/questionMy friend owes $250 to Illinois state(for 2015 individual Tax Return). She has a bank account,but doesnt have checks. Can she have the funds deducted from her bank account … read more
Stephen G.
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Jgordosea. my mother was issued a 1099c debt on my brother credit card. He opene
Hi Jgordosea. my mother was issued a 1099c for a debt on my brother credit card. He opened the account with a forged signature of my mother. He died in 2008, the card company tried to collect from my … read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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I realize that that my question regarding what to do about
I realize that that my question regarding what to do about 1 1099C might be a very long one, please explain if there are any charges. THnak you. This is about what getting a 1099C means to me and my h… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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My wife is the executrix of her late mothers estate. Her
My wife is the executrix of her late mother's estate. Her mother was single when she died in late 2012, no dependents. My wife recently received two 1099-Cs, one in her deceased mother's name, the oth… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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Dear Tax Professional - My mother died in February 2012 with
Dear Tax Professional - My mother died in February 2012 with credit card debt totalling approximately 25k, spread over three accounts. Her estate was insolvent, and I filed an estate return showing th… read more
Stephen G.
Stephen G.
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Bachelor's Degree
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A credit card company sued me for delinquent debts. I counter-claimed
A credit card company sued me for delinquent debts. I counter-claimed against them and they dropped the suit. They have just issued me a 1099-C with the notation that they decide to cease collection a… read more
Lev
Lev
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Bachelor's Degree Equivalent
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This is a Virginia and federal tax question. I live in Virginia. My
This is a Virginia and federal tax question. I live in Virginia. My wife's declared Chapter 7 Bankruptcy and was discharged in December of last year , 2011. She cited only two debts namely her first a… read more
Jax Tax
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I had 1099C last year for 8,000 and my tax preparer filled
I had 1099C last year for 8,000 and my tax preparer filled out form 982 because I dont have any assetts and could not pay my credit card payments. This year I have received 2 more 1099C and I know tha… read more
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I have a small dental practice. I have several patients that
I have a small dental practice. I have several patients that have not paid large dental bills. Collection activity has failed. I have decided to write off this debt. Can i forgive the debt and issue a… read more
PDtax
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I have forgiven/cancelled debts from Credit Card companies.
I have forgiven/cancelled debts from Credit Card companies. The 1099s that are issued by credit card companies get added to income. I am retired, have no income, have very low cash balances. I usred H… read more
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Im preparing my paperwork for my 2010 taxes. I sold a property
Im preparing my paperwork for my 2010 taxes. I sold a property by short sale during 2010. My attorney tells me I must report the difference as ordinary income and that she knows how to report it but I… read more
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Is credit card debt that has been discharged in CHapters 7
Is credit card debt that has been discharged in CHapters 7 or 13 taxable to the federal governemnt and to the state of NJ...when are 1099C's received for debt write offs.… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
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My father died 3 years ago and had several credit cards in
My father died 3 years ago and had several credit cards in his name only. My mother knew nothing of htese cards and her name was not on any of them. She hired a lawyer and most of the credit cards can… read more
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