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April 19, 2023
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Received a 1099-C for an account that I went through a debt relief program and paid an agree upon amount

  • April 19, 2023
  • 1 reply
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I used Debt relief company to pay off my credit cards that I was behind on. One account the balance at settlement was $1560 above the agreed upon amount to pay creditor off. This has been paid in full for the agreed upon amount but the collection agency that the creditor used sent a 1099-C for the amount of $1560. Am I supposed to report this amount even though I paid the creditor the agreed upon settlement? Should I have received this form from the collection agency?

Best answer by ShirlynW

Yes. If you received a 1099-C, it should be included in your tax return.

1 reply

ShirlynWAnswer
April 19, 2023

Yes. If you received a 1099-C, it should be included in your tax return.

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