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    arrestedinspace's Avatar
    arrestedinspace Posts: 2, Reputation: 1
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    #1

    Feb 22, 2010, 07:37 PM
    Why didn't I receive a 1099c?
    I was discharged from Chapter 7 BK around the middle of 2009 without a hitch because I have no assets, but I don't know if that necessarily means I was insolvent...

    Anyhoo, I've been waiting on the edge of my seat for at LEAST 4 1099Cs from my various creditors with whom I have cancelled debt, and here it is February 22nd. I know there was apparently some kind of extension as of last year for creditors to issue 1099Cs by February 15th, but I definitely should have gotten them by now, right? I'm researching like a madwoman and I'm scared I might see these forms NEXT year or even further down the road. I've already e-filed and I was eligible for the EITC without claiming this "income." I didn't claim it because I didn't know how much it was! Am I going to get reamed by the IRS?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Apr 22, 2010, 10:23 AM
    How much debt was discharged from each creditor? If it was less than $2,000, that is probably why you did not get the Forms 1099-C.
    arrestedinspace's Avatar
    arrestedinspace Posts: 2, Reputation: 1
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    #3

    Apr 22, 2010, 07:22 PM
    Quote Originally Posted by AtlantaTaxExpert View Post
    How much debt was discharged from each creditor? If it was less than $2,000, that is probably why you did not get the Forms 1099-C.
    Two were well over $2,000. I read this on CHARGED OFF (CANCELED) DEBTS AND THE IRS | 1099C

    "Form 1099-C. If a federal government agency, financial institution, or credit union cancels or forgives a debt you owe of $600 or more, you will receive a Form 1099-C, Cancellation of Debt. The amount of the canceled debt is shown in box 2. "

    But, like I said, I declared BK and was told by everyone to whom I spoke (creditors, third-party collection companies, IRS) that because of that I would not receive any.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Apr 23, 2010, 11:59 AM
    If you have not received the Form 1099-C by now, then it is likely you will NOT receive one for 2009.
    mtmoorh's Avatar
    mtmoorh Posts: 1, Reputation: 1
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    #5

    Nov 3, 2012, 09:02 PM
    I received a letter from the IRS stating I owed money from a cancelled debt by one of my creditors from 2010 I never received a 1099 from anyone. My debt was over $4000.00
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #6

    Nov 4, 2012, 05:22 AM
    There can be a number of explanations:
    - lost in the mail.
    - wrong address in collector's files.
    - you got it but discarded it as junk mail.
    - collector failed to mail YOU a copy in error.
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