Our Chapter 13 was discharged late 2012, and we received a 1099-c from one of the creditors

Asked over 1 year ago - Reading, PA

Since we should not include this debt on our taxes, what should we do with the 1099-c?

Attorney answers (3)

  1. Jacques H. Geisenberger Jr.

    Contributor Level 14


    Lawyers agree


    Answered . There is an IRS Form which you should complete to explain why the 1099 - c form you received is not included in you 2012 tax return. The form can be obtained from www.irs.gov

    Mr. Geisenberger is a Pennsylvania-licensed attorney only. The information is not, nor is it intended to be, legal... more
  2. Matthew Scott Berkus

    Contributor Level 20


    Lawyers agree

    Best Answer
    chosen by asker

    Answered . Assuming a 1099-C, get IRS Form 982 and follow the instructions. It is painlessly easy.

  3. Dennise Louise Mccann

    Contributor Level 10


    Lawyers agree

    Answered . You are correct that discharged debt is not includible in income. Take the 1099-C to your accountant and he or she will know what to do with it and how to account for it on your return.

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