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    expectingmom's Avatar
    expectingmom Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 1, 2007, 09:01 AM
    1099-C form
    Good Morning I have received a 1099-C form and I have no clue what this is and why I got it and how it will affect my taxes is this a Form they are taking the money from the debt it does say cancellation of Debt but just not sure how this works and what or why I am getthing this.
    Could you please explain this to me thanks so much..
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 1, 2007, 11:47 AM
    You need to report that as income on Line #21 of Form 1040.

    If you need professional help to file, contact me at [email protected].
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