Taxes From A To Z (2017): C Is For Canceled Debt
It’s Taxes from A to Z. Today: C is for canceled debt.
It’s Taxes from A to Z. Today: C is for canceled debt.
Trying to figure out your tax forms? Here’s the next in my handy-dandy forms primer: 1099-C, Cancellation of Debt.
Taxpayer asks: I have a 1099-c from a short sale on my house, I was hoping to be granted an exemption because of the Mortgage Forgiveness act of 2007, my amount in box 2 is 54809 and the amount in box 7 is 0.00 not sure what all this means. Taxgirl says: A form 1099-C…