Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
Taxpayer received a 1099-C for Mortgage-Modification in 2017
Taxpayer received a 1099-C for Mortgage-Modification in 2017 for $21K+. His spouse also received a 1099-C for the same amount, also for 2017. They are behind in filing the 2017 return. The question is… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,187 satisfied customers
I got a 1099-c,, We sold a rental property on a short sale
I got a 1099-c,, We sold a rental property on a short sale The amount of debt discharged was $60847.37 (box 2) The fair market value (Box 7) was $55000. Box 6 was marked F. How do I enter this on my t… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
5,327 satisfied customers
My client received a 1099-C under his LLC name for which he
My client received a 1099-C under his LLC name for which he files 1065 every year. the amount on the 1099-C has already been discharged under Bankruptcy. So where to enter the amount of 1099-C in form… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
33,238 satisfied customers
Regarding 1099-c cancellation of debt form. Cancellation of
interested in knowing if i could include the amount of debt discharge for mortgage as part of the insolvency worksheet… read more
Tax.appeal.168
Tax.appeal.168
Principal
6,945 satisfied customers
I received a 1099-c for the canc of a timeshare debt that
I received a 1099-c for the canc of a timeshare debt that was sold thru sales tactics that were untrue. The code on the 1099-c, section 6 is G - Decision or policy to discontinue collection. Do I have… read more
Tax.appeal.168
Tax.appeal.168
Principal
6,945 satisfied customers
We applied for an extension to do our income tax for 2015.
We applied for an extension to do our income tax for 2015. We lost our home to foreclosure in 2015. How does this affect our income tax prep?… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,539 satisfied customers
If I am doing a deed-in-lieu on my house, can u tell me what
If I am doing a deed-in-lieu on my house, can u tell me what the taxes are I would have to pay if I owe 74,000 and how long do I have to pay it??… read more
Barbara
Barbara
Enrolled Agent, Paralegal
12,061 satisfied customers
I had an investment home that was included in a bankruptcy
I had an investment home that was included in a bankruptcy and never reaffirmed The bank eventually foreclosed issued a 1099 for the fair market value of the property. Do I have to pay taxes on this?… read more
Christopher B, Esq.
Christopher B, Esq.
Attorney
Juris Doctor
5,186 satisfied customers
What should be done with a 1099-C received on a taxpayer
What should be done with a 1099-C received for 2014 on a taxpayer that is deceased since 03/10/2013? Husband file the 2013 tax as a joint return to claim the income earned and received in 2013. The 10… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,818 satisfied customers
i received a 1099-c after completing a deed-in-lieu in California. it
i received a 1099-c after completing a deed-in-lieu in California. it listed me as being personally liable for the loan, which is incorrect as it is a first mortgage in California. It lists debt extin… read more
Richard
Richard
Tax Attorney
Doctoral Degree
5,118 satisfied customers
I received a 1099A for an abandoned house i was renting out..
I received a 1099A for an abandoned house i was renting out.. I am liable for repayment of the debt. Where and on what form do i enter the principal outstanding and the FMV? The FMV shown is 56,800. T… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,665 satisfied customers
We filed for personal bankruptcy (chapter 7) in 2011 and did
We filed for personal bankruptcy (chapter 7) in 2011 and did not reaffirm our home. July 27, 2011 we were granted a Discharge of Debtor under section 727 of Title 11. After that Wells Fargo sued us fo… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
2,693 satisfied customers
How to fillout 982 form for cancelled credit card debt , to
How to fillout 982 form for cancelled credit card debt , to claim insolvency ? I got 1099-C forms from 5 credit cards, so do I need to fill out five 982 forms or combine all credit cards into one 982 … read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
2,693 satisfied customers
How to report cancellation of debt on rental property?
I received a 1099-C for my rental property that I held for over 1 year. According to the worksheet provided in IRS Publication 4681 I was insolvent just prior to the debt being canceled. My question i… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,328 satisfied customers
I have a form 1099 2008 Form showing # 2 Balance of Principal
I have a form 1099 2008 Form showing # XXXXX Balance of Principal outstanding $ 845,522.56 # XXXXX 100.00 Fair market value I am told to fill out form 982 Reduction of Tax Attributes due to Discharge … read more
Chad Oberg
Chad Oberg
Director
Bachelor's Degree
174 satisfied customers
How to complete the 982--I am insolvent, no business, no farm
I have a 1099-C is for a cancellation of credit card debt. I settled the account for less than what was owed. Debt canceled amount on the 1099-C form is $2,538.20 Date canceled date on the 1099-C form… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I did a debt settlement and paid partial debt through a debt
I did a debt settlement and paid partial debt through a debt settlement company. The company sent me a 1099G and wrote it was cancellation of debt. Is this taxable? I thought with debt settlement it w… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
when filing taxes on line where do i put the 1099-c ...
when filing taxes on line where do i put the 1099-c cancellation of debt wages or other income… read more
Wayne Brasch
Wayne Brasch
Accountant and Business Consultant
Master Degree
718 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

5,118 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

298 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

18,818 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,665 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x