1099 Misc - from debt collector
1. Why would i receive this, isn't that used when working for a company. I had no relationship with this company.
2. This was postmarked first week of April. There is a rule they must send postmarked by Jan 31. By first week of April usually my taxes would have been filed.
Anyone have information on a situation like this, and what do I do with the 1099 misc. I shouldn't have to report the amount they say i "earned" from them, when I did not.
i understand that forgiven
i understand that forgiven debt is taxable. This is not forgiven debt. I never paid this company anything, nor did i have a debt in this amount. I did sue them and did win. the amount they are 1099misc me for looks like that amount plus attorney fees. But the attorney also 1099misc for the award amount (less atty fees). So in essence this is double dipping. I shouldn't be taxed twice.
The atty received award and sent me the amount less atty fees. From what i am researching this 1099 misc from the debt collection company (which never collected a debt from me) should not have been sent to me.
I'm also wondering if this is a new rule for 2012. I also had a suit in 2010 and that suit did not 1099misc me for the award amount.
Not to mention that it came the first week of April, postmarked April 1. Seems sketchy.