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1099-c

Asked Jul 10, 2012, 08:49 AM — 1 Answer
Its the full amount on each 1099-c he got one for the full amount and i got one for the full amount.

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AtlantaTaxExpert Posts: 19,887, Reputation: 3728
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Jul 10, 2012, 09:16 AM


Okay, that is because you are both considered JOINTLY and SEVERALLY liable for the debt.

You need only report ONE of the Forms 1099-C on your JOINT return, reporting the forgiven debt as "other income" on Line #21 of Form 1040.
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