1099-C Form


Cancellation of Debt. This form is used for dealing with tax that must be paid when a personal debt has been cancelled by its creditors. This form is typically only used when a debt has gone unacknowledged for a certain period of time. The creditor can report this "lost income" to the IRS in order to lower their tax burden.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
1099-B Form 1099-CAP Form