What is a 1099-C Form AARP Tax-Aide Program

What is a 1099-C Form

Q: I received a letter, which is a copy of a 1099-C. I’m not sure how to report this or what it is. A: If a debt that you owe is canceled or forgiven, other than as a gift or bequest, you include the canceled amount in your income. Assuming that the debt was a non-business debt, you report the canceled amount on Form 1040, line 21. The amount to report is shown on the Form 1099-C in box 2. These questions are actual inquiries submitted by taxpayers to our AARP Tax-Aide Program. The AARP Tax-Aide Program is a volunteer-run, free tax-preparation and assistance program offered to low- and middle-income taxpayers with special attention to those age 60 and older. Our volunteers are trained and IRS-certified to understand individual federal-tax issues. Our volunteers provide tax assistance as a public service and cannot guarantee the accuracy of the information provided. Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures

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