Here's what you should know about the form 1099-C, Cancellation of Debt: A form 1099-C, Cancellation of Debt, is issued by a creditor when a debt is discharged for less than the full amount you owe ...
The tax form 1099-C is used to record a cancellation of debt. While debt cancellation is good news for an individual or business, it still leads to more taxes. The IRS generally considers any forgiven ...
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