Archive for the ‘Installment Loans Hawaii’ Category

The 1099-C: Tax Consequences of Debt Negotiation

Dienstag, März 10th, 2020

The 1099-C: Tax Consequences of Debt Negotiation

Of the many surprises which come into the mail for taxation period, probably the most dreaded is the 1099-C. The IRS categorizes some debts that are forgiven a revenue stream, and therefore entitled to fees. You must file these forgiven debts on your tax return as income related to the cancellation, settlement, or forgiveness of a previously existing debt when you receive this form. (mehr …)