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Filling out form 982 form insolvency. specifically part ii
filling out form 982 form insolvency. specifically part ii reduction of tax attributes. received 1099-c for cancellation of debt. already filled and paid taxes for 2017. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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Want to know if I sold property at a loss { Short Sale} in
want to know if I sold property at a loss { Short Sale} in 2017 and received a 1099 C will I owe any state or irs taxes … read more
Lev
Lev
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I have an accepted return to the IRS for 2017, I have a
I have an accepted return to the IRS for 2017, I have a refund coming...I just received a 1099c from a 2nd mortgage on my primary residence that foreclosed in 2008. The 2nd mortgage was not for the in… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I am getting a 1099c form (cancellation of debt) and I am on
I am getting a 1099c form (cancellation of debt) and I am on Social Security Disability SSDI. Does this mean my social security SSDI becomes taxable? I will have to pay taxes on the 1099c but I am thi… read more
Lane
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A former employee died in August 2016. At the time he died
A former employee died in August 2016. At the time he died he owed the company over $100,000. The debt arose years ago when he bought an asset from the company (a motor home). He fell on hard times an… read more
Tax.appeal.168
Tax.appeal.168
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I received a 1099c from a card company with my SS # on it
Hi, I received a 1099c from a card company with my SS # ***** it dated 12/31/2015. My S-Corp was closed in May of 2011 and filed for bankruptcy but personally I did not file. I was the guarantor for t… read more
Mark D
Mark D
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I'm ***** ***** and I have a question about insolvency test
Customer: Hi! I'm ***** ***** and I have a question about insolvency test (student loan discharge) in Oregon. Looking at filing separately vs married jointly. We are both on the loan of the home. Do I… read more
Lev
Lev
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I am filling out a Insolvency worksheet (4681) taxes.It
I am filling out a Insolvency worksheet (4681) for my taxes. It asks for Interest in a 401 account. My 401 account is stocks and doesn't have interest. What are they asking for?… read more
Lev
Lev
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Bachelor's Degree Equivalent
27,908 satisfied customers
I received a 1099 from a credit card company for personal unsecured
I received a 1099 from a credit card company for personal unsecured debt of $3,890.00 for 2013 but I am insolvent. I completed form 982 so that I won't show this 1099 canceled debt as income but don't… read more
Megan C
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Bank informed me today that I will receive a 1099 Form –C for
Bank informed me today that I will receive a 1099 Form –C for the principal, but not for interest and penalties of a sizeable credit card debt that I am unable to repay. I do not intend to contact the… read more
Lev
Lev
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27,908 satisfied customers
My husband is on perm disability. He got his student loan
My husband is on perm disability. He got his student loan of $87,000 cancelled. We recieved a 1099 c. We are now looking into getting the tax on this "income" excluded with insolvency. the student loa… read more
Robin D.
Robin D.
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My husband received a 1099 C cancelling a debt resulting from
My husband received a 1099 C cancelling a debt resulting from a judgement. He received the 1099 C on April 9, 2012. We had filed our taxes, filing joint. He has no assets. I have IRA, 401K, house, etc… read more
Lev
Lev
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I have a credit card debt that was charged off 7 yrs ago in
I have a credit card debt that was charged off 7 yrs ago in Dec. and per credit reporting laws should be removed on Dec. I just received a 1099 satating that the debt should be added to my income. Is … read more
Lev
Lev
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Bachelor's Degree Equivalent
27,908 satisfied customers
i am filing a debt cancellation form on credit card debt onm
i am filing a debt cancellation form on credit card debt onm the insolvency worksheet it wants amount of debt i have 11 cards i settled through different times of year ientered a program 7/9/09 to tak… read more
Wallstreet Esq.
Wallstreet Esq.
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I negotiated about 90K of credit card debt and short sold my
I negotiated about 90K of credit card debt and short sold my house in 2010. The majority of the cards were settled in the month before the housed closed escrow. I owed 400K on the house and sold it fo… read more
Wendy Reed
Wendy Reed
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I have a client who received a 1099-C Cancellation of Debt
I have a client who received a 1099-C Cancellation of Debt in box #2 $201767.40 and in box #3 $25,765.41 box #4 SHS box #5 Yes. I reported the 1099-C on IRS Form 982. However, is there a similar form … read more
Merlo
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I received a 1099-C for 11,166.76. How is this reported and
I received a 1099-C for 11,166.76. How is this reported and will I have to pay tax on this?… read more
Merlo
Merlo
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We settled a credit card account for a lower amount than we
We settled a credit card account for a lower amount than we owed. We settled in Dec. 2008. They took the money from our account in Dec. 2008. We just received a 1099-C the end of January 2010 for the … read more
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