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I got a 1099-c from a credit card payed off last year...says
I got a 1099-c from a credit card payed off last year...says on the 1099 … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
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Please see the Word doc attachment and first reply with what
Please see the Word doc attachment and first reply with what you would charge. Thanks Richard.… read more
PDtax
PDtax
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Do I need to submit Form 982 w/ a 1040x if F982 is filled
Do I need to submit Form 982 w/ a 1040x if F982 is filled out w/ discharge of a qualified principal residence (1e and 2)? I rec'd a 1099-C for a settled debt for a Promissory Note created in March of … read more
Barbara
Barbara
Enrolled Agent, Paralegal
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My name is ***** ***** I am looking at your response of
Hi, my name is ***** ***** I am looking at your response of 4 years ago re: reopening an S Corp after prior year return was marked "final". The Form 966 was not filed for 2014, but the 1120S return wa… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
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I received 2 1099 C business that closed 3 years ago. The
I received 2 1099 C for a business that closed 3 years ago. The business was an S-corporation. it was sold but at the time there was about $25,000 on a credit card (in the business name). The debt was… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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My name is ***** *****. I received two 1099-C, one husband
Good evening, my name is ***** *****. I received two 1099-C, one for my husband one for myself. Do I need to enter the information on my income taxes twice? … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
I'm ***** *****. , i was a coborrower on a short sale,
i was a coborrower on a short sale, my mom's house in 2015. it was my principal residence. she got a 1099c, i did not. when i called the bank, they said they only send 1099c's to the primary borrower. does that sound right? … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
I settled credit card debt in 2015 and am still making
I settled credit card debt in 2015 and am still making payment throught 2016 on the settlemet. I have not received a 1099-c. Should I still include the settlement on my 2015 return or do I wait till I… read more
Jonathan Tierney
Jonathan Tierney
MBA
664 satisfied customers
Credit card debt: when settling/forgiving debt, is the credit
Credit card debt: when settling/forgiving debt, is the credit card company allowed to 1099 parties other than just the party who's name is ***** ***** Specifically, person's company incurred the charg… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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Three years ago a company of which I was the owner went out
Three years ago a company of which I was the owner went out of business leaving large cradit cards bills for which I was the personal guarantor. I have settled one of these but the other is still bein… read more
Phillip B, EA
Phillip B, EA
Tax Advisor
Bachelor's Degree
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I had an S corp until 2009. I filed the final K-1 in 2009.
I had an S corp until 2009. I filed the final K-1 in 2009. In 2008 the bank and the corporation settled outstanding debts incurred from 2003 - 2007. I received a 1099-C in the mail for 2011 referencin… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
4,670 satisfied customers
Citi Corp sent me two 1099Cs for 2010. Im not sure what they
Citi Corp sent me two 1099C's for 2010. I'm not sure what they are for but presume a possibility of one credit card debt foregiveness as cancelled a card 11 years ago because of incorrect interest can… read more
Lev
Lev
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Bachelor's Degree Equivalent
30,500 satisfied customers
I did a Short Sale last year. Wachovia sent me 2 1099cs each
I did a Short Sale last year. Wachovia sent me 2 1099c's each for the same amount.One was joint,my wife and i.The other one was in my wife's name only. I called Wachovia and they said that was correct… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I am a co-borrower on a bank loan to a partnership/LLC. Last
I am a co-borrower on a bank loan to a partnership/LLC. Last year, the loan was restructured to interest only after the property (commercial condo office building) was re-appraised. (Surprisingly, the… read more
socrateaser
socrateaser
43,156 satisfied customers
Hi. This is re form 982. I have 1099c for 16,120 cx mortgage
Hi. This is re: form 982. I have 1099c for 16,120 cx mortgage debt. Was a primary 2 out of 5 years, but rented 9 months, then renters abandoned. House was repossessed 08/08. The mortgage was an 80/20 … read more
Chad Oberg
Chad Oberg
Director
Bachelor's Degree
126 satisfied customers
I did not receive a 1099-C how can I still be taxed?
I did not receive a 1099-C for cancellation of debt. The debt is well over ten years old. Now I'm being taxed on it. How can they do this and why? What can I do.… read more
Merlo
Merlo
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558 satisfied customers
Ive received 2 1099-Cs recently. Totaling around $17K which
I've received 2 1099-Cs recently. Totaling around $17K which was incurred on non-secured debt (credit cards). None of the debt was incurred in 2008 and probably all was prior to 2006. Do I have to rep… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
i have losses in loaning money to a person 6 years ago. The ...
i have losses in loaning money to a person 6 years ago. The loan was to help him to expand his business and mine. He paid about 10% back than stop, I had lawyer seek relief, the person filed bankrupta… read more
MequonCPA
MequonCPA
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Master's Degree
1,732 satisfied customers
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