1099-c
Date: Thu, 02/24/2011 - 11:16
Normally, if a loan has not been fully satisfied and lender has
Normally, if a loan has not been fully satisfied and lender has cancelled the remaining debt, then it will be regarded as taxable income. If the forgiven amount is more than $600, then the lenders normally issue a 1099c form. As far as your query is concerned, you will not receive a 1099c form from the institution as Arizona is a non-recourse state.