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Re:1099-c debt foregiveness (1 viewing) (1) Guest
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TOPIC: Re:1099-c debt foregiveness
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steve (Moderator)
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graphgraph
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Re:1099-c debt foregiveness 6 Months, 3 Weeks ago Karma: 3  
When a debt is canceled financial institution are required to issue 1099-A or "C".
Usually this 1099A or "C" is reported as "other income/loss" on page one of the tax return. In some situations the 1099A or "C" may be reported against the rental property on either schedule E of the tax return or the business. Check with your CPA preparer for more a detailed analysis.
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1099-c debt foregiveness
Miami LS 2008/04/12 19:56
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steve 2008/04/29 22:17
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