Skip to main content
January 28, 2024
Question

Need to issue 1099-C for unpaid loan

  • January 28, 2024
  • 1 reply
  • 0 views

S corp and can not determine how to fill out 1099-C on the software.  Loan to the corp that is unrecoverable.

1 reply

January 28, 2024

Tell us the relationship between you, the shareholder if not you, the lender if not you, and the S-Corp. There may be no debt cancellation or no need for you as an individual to issue 1099-C under IRC 6050P.