Menu Path: Income > Uncommon Income > Canceled Debt (1099-C or 1099-A)

If you received a Form 1099-C for cancellation of debt income, you can enter that amount on the Canceled Debt screen. If the cancellation of debt income was part of your bankruptcy, then none of it will end up being taxable income. Canceled debt is only income if you are not insolvent or bankrupt.

Deluxe Edition

Includes All Free Features PLUS:

Audit Assist

Protect your taxes with Audit Assist!

Our tax professionals will assist you if you are audited by the IRS. Get the peace of mind that comes from knowing you are covered.

Included with DELUXE...
Find out More!

Free Edition

FREE Federal, FREE e-file

Our online application is designed to be simple and fast. Most returns can be completed within 30 minutes. No software to download. Use any computer that has an internet connection.

© 2002-2015 FreeTaxUSA, a TaxHawk, Inc. owned and operated website - Terms of Use