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Is a Co-signer responsible for tax on a cancellation of debt for taxes(1099C)?
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I was just wondering if a Co-signer responsible for tax on a cancellation of debt for taxes(1099C)? I have not received a 1099 c yet and wondered if I should be looking for one. I Co-signed a loan for a car and it was repo'd. I ended up settling with the bank. The person I co-signed for is GONE!...
1099C not being sent for 3 yrs
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Im being told by Citi card that they will not send the 1099C for 3 yrs And IRS states that is a banking law, possibly okay. Can anyone tell me If this is correct and does this accure interest or what ?:eek:
1099c and my foreclosure
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My wife and I had to forclose on our house at the end of last year. The foreclosure date was actually on the 29th of December, and the house did not sell at auction. I just received in the mail a 1099c from my lender for the entire amount of their loan, 400k. My understanding of how this works...
1099c
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Hi , From a debtors point of view is it better for me to Settle an account in full or pay in full? If I settle an account and the Debtor writes off more than $600 -How much tax will I end up paying according to 1099c ? Regards, Madhavi
1099c
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I had a credit debt of $14,000 and settled to pay 7,000, which I had borrowed from my brother. How does this affect me filing my taxes? The 1099 C is for $7,000. By adding this as other income, I think it will make me owe quite a bit ot the IRS. Can you shed some light on this. View more questions Search
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