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#1
02-16-2006, 03:04 PM
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Bankruptcy in 2005, Received 1099-CWhat is the name of your state? VA Bankruptcy was closed 9/05. Had several creditors. Just received a 1099-C, Cancellation of Debt tax form from one of the credit card companies. Why did I get one and not from others? The form is telling me I need to fill out Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness? Do I fill that out for each one even though I didn't get 1099s on all? Thank you for your time. |
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#2
02-16-2006, 04:04 PM
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| Assuming you received a discharge, file the Form 982 along with your tax return. It should have the effect of "cancelling out" the 1099C. |
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#3
02-18-2006, 04:40 PM
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| You only have to worry about the ones that actually sent you the 1099-C.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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