The 1099-C: Tax Consequences of Debt Negotiation

The 1099-C: Tax Consequences of Debt Negotiation

Of all surprises which come within the mail for taxation season, one of the more dreaded is the 1099-C. The IRS categorizes some forgiven debts as a revenue stream, and so entitled to fees. Whenever you receive this form, you need to register these forgiven debts on your own tax return as income linked to the termination, settlement, or forgiveness of the previously current debt. Lanjutkan membaca “The 1099-C: Tax Consequences of Debt Negotiation”