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1099-C received for 2013 for deceased husband who passed away in 2012. Discharge of credit card debt. What do I do with it?

Phoenix, AZ |

Final tax return was already filed for tax year 2012 as he passed away in 2012. IRS was notified per 2012 joint return that husband was deceased. No will. No estate. Accountant filed all necessary documents to establish it as a FINAL return for him. Box 1 on 1099-C stated discharge occurred on 4/16/13....AFTER 2012 return was already filed. Credit card company issued me a letter in July 2012 stating I was not financially responsible for debt and closed the account 7/6/12.

Attorney Answers 1


I think that I would ignore it. In theory, his estate might owe income taxes on the income generated by the forgiveness of the debt, but it is insolvent so it is likely that the discharge is not taxable and even if it were, there are no assets in the estate from which to pay the tax. Keep the 1099 C for your records

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