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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
30,512 satisfied customers
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®
IRS Enrolled Agent, CFP(R),
Master's Degree
6,066 satisfied customers
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
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
30,022 satisfied customers
I was filling out an insolvency worksheet for a cancelled
I was filling out an insolvency worksheet for a cancelled debt(1099-C) and I just realized that I have to include my 401k accounts which would make me not insolvent after all. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
I need to ask a CPA a question about filing 2015 IRS taxes.
I need to ask a CPA a question about filing 2015 IRS taxes. I was able to complete a debt settlement with a credit card company and they sent me a 1099 form with the balance that was not paid. Am I su… read more
Mark D
Mark D
Enrolled Agent
Master's Degree
1,338 satisfied customers
I received a 1099-C discharged debt. I was the personal
I received a 1099-C for a discharged debt. I was the personal guarantor for a credit card attached to a corporation. The debt is from 2013. Here is some background on the situation. My boyfriend and I… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
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
Enrolled Agent
Master's Degree
1,338 satisfied customers
I had student loans discharged this year, and a 1099C is
Hi, I had student loans discharged this year, and a 1099C is goin to be filed with the IRS, however, my loans are going to be reinstated. I need to know exactly what form I file with the IRS (it can't… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
30,022 satisfied customers
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
Retired
Bachelor's Degree Equivalent
30,512 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.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Need help, form 982 as individual. Using H&R Block with form
Need help, form 982 as individual. Using H&R Block with form 982, doesn't have worksheet 4681:used paper 4681 for assets & debt. Have cancelled credit card debt of $3844, shared with ex-spouse from 10… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
12,108 satisfied customers
I owned a home in my name in Florida and short sold it in 2012.
I owned a home in my name in Florida and short sold it in 2012. I got married in 2012 and also moved to Georiga in 2012 (still living in GA). I received the 1099c's in my name (first mortgage was used… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
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
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
I have a cancelled credit card debt - when figuring out what
I have a cancelled credit card debt - when figuring out what if any of that cancelled debt needs to be declared as 'other income', do I have to include the value of my government annuity (I retired fr… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
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
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,512 satisfied customers
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
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
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
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
982 for 3 1099c forms. insolvent during the payoff of all credit
982 for 3 1099c forms. insolvent during the payoff of all credit card settlements, so the forgiven debt shouldn't be income. My questions are: 1) does student loan debt count as liability? 2) Do I nee… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
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