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Form 1099-C: When to not report debt cancellations

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According to the IRS instructions for Form 1099-C:

 

Do not file Form 1099-C when fraudulent debt is canceled due to identity theft. Form 1099-C is to be used only for cancellations of debts for which the debtor actually incurred the underlying debt.

 

 

The instructions also note:

 

Form 1099-C must be filed regardless of whether the debtor is required to report the debt as income.

 

 

 

 

 

 

 

Additional Information

 

Para obtener la versin en espaol de este artculo de Knowledge Base, haga clic aqu:Forma 1099-C: Cundo no reportar debt cancellations?

Tags: federal,form