We have received 1099's income earned from a home and truck we returned in a bankruptcy. The 1099's have the bankruptcy box marked. Do we have to report this or not?
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We have received 1099's income earned from a home and truck we returned in a bankruptcy. The 1099's have the bankruptcy box marked. Do we have to report this or not?
If it is debt cancellation, it is taxable income. For more information, provide details:
Which 1099-xxx? Info in various boxes.
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