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    mommy3331's Avatar
    mommy3331 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 3, 2009, 10:09 AM
    Received 1099-c after filing 2008 taxes.
    Hello received a 1099-c after filing our 2008 taxes Will they hold our refund or what should we do. The amount on the 1099-c is 814.00. It was for settling a debt but we did not no we would get one of these forms.
    Thank You
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Feb 3, 2009, 11:24 AM

    You need to file an amended return to include this 1099. I sugest you wait at least until Feb 17 to make sure that you don't get any more 1099's.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Feb 3, 2009, 11:43 AM

    Yes, you have to file a admended return
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Feb 9, 2009, 10:41 AM
    The income should be added to your Adjusted Gross Income on the Form 1040X.

    No self-employment tax is due, as this income would have been reported Line #21 on Form 1040 as "Other Income".

    You WILL have to write a check to pay the additional tax. As long as you file the amendment by 15 April 2008, there will be no interest or penalties due.

    Also, do not forget to amend the STATE tax return as well.
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