You will receive a 1099-C Cancelation of Debt form if a lender forgives more than $600 of taxable debt. You must include the amount of canceled debt on your federal tax return as a part of your ...

It's tax season, and if you've received an unfamiliar income form this year, it might be a 1099 tax form. A 1099 form is used ...

Have you received a 1099 tax form that you don’t understand? Our guide describes the basics of the nearly two dozen different ...

Debt cancellation can happen when a creditor stops ... Insolvency is reported on IRS Form 982. If your insolvency is greater than the amount of debt forgiveness, you won't have to list the income ...

You may be able to carry over some of your losses to the following year, offsetting tax potentially owed on future gains. Form 1099-C documents the cancellation of debt. If your debt was ...