Form 1099-C reports canceled debt to the IRS when a creditor has forgiven or erased a balance owed so a taxpayer no longer has to pay it. What Is Form 1099-C: Cancellation of Debt? Lenders must submit ...
If you have more than $600 of debt forgiven, your lender should send you a 1099-C Cancellation of Debt form. This form is a tax document that the lender is required to file. It will help you determine ...