when is a 1099C on forgiven debt issue?
Date: Sun, 07/18/2010 - 17:12
If I do monthly payment arrangements as part of the settlement. Does the creditor issued the 1099c in the year that the debt is finally settled? Is it 30 days after every thing is paid off?
It you settle an account this year, you will get a 1099 on the s
It you settle an account this year, you will get a 1099 on the settled portion to file with your taxes for next year...so it will apply to your 2010 tax return.
The final payment acknowledged is what constitutes the settled d
The final payment acknowledged is what constitutes the settled debt.... So that is what triggers the 1099.