1099A; Do I file the amount as income [Archive]

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drayt

Mar 16, 2009, 12:20 AM

Received a1099A form and called the bank. The person I spoke with stated that the amount would not be reported as income but could not advise me on how to file it. Please help.

AtlantaTaxExpert

May 7, 2009, 10:22 AM

Contact a tax professional.

IntlTax

May 7, 2009, 01:55 PM

If the bank forgives the debt you owe, then they should send you a Form 1099-C. Since you got a 1099-A, they did not forgive the debt.