Log in

View Full Version : 1099-C for deceased father sent to my mother


pcjdreed
Mar 22, 2009, 09:13 AM
My mother received a 1099-C for the tax year 2008, on a cancellation of debt referencing my father's SS #. He died Sept 2005. The amount is > $20K. There was no estate to settle.

Is my mother required to file this under her SS# for income?

Five Rings
Mar 22, 2009, 12:17 PM
It depends on what the debt was for and if your mother was a co-signer in the debt.

See: Tax Topics - Topic 431 Canceled Debt – Is it Taxable or Not? (http://www.irs.gov/taxtopics/tc431.html)

pcjdreed
Mar 23, 2009, 02:58 PM
It was a credit card for charges unknown as of now. This was his credit card and she was not on the account.

Five Rings
Mar 23, 2009, 03:06 PM
She has no obligation to report that.

She is now single and it has nothing to do with Social Security.