What is the name of your state (only U.S. law)? Georgia
I have received two cancellation of debt 1099s. One for a mortgage, and one for an unsecured cosigned business loan by an individual.
I have read these are not taxable if insolvency is present, which it was, and although these were issued for 2009, they were both discharged in Jan 2010 by chapter 7.
Original file date was Sept 11 2009. Does this matter the discharge happened in a different tax year? Insolvency seems much harder to show.
Thank you.
I have received two cancellation of debt 1099s. One for a mortgage, and one for an unsecured cosigned business loan by an individual.
I have read these are not taxable if insolvency is present, which it was, and although these were issued for 2009, they were both discharged in Jan 2010 by chapter 7.
Original file date was Sept 11 2009. Does this matter the discharge happened in a different tax year? Insolvency seems much harder to show.
Thank you.