If you are referring to a 1099-C, here is the information: If it is a cancellation of debt on your main home, it will be excludable. See steps below to file with TurboTax. If it is for other types of cancellation of debt other than your main home, for example, like credit card, student loan etc., you might want to consult a tax professional. Here are the steps: In TurboTax online, Sign into your account, select Pick up where you left off At the right upper corner, under search, type in "1099c" Select Jump to 1099c Follow promptsNote: In other uncommon situation, refer to IRS publication 4681 before proceeding, or consult with a professional tax preparer. For more information about cancellation of debt, click here: Form 1099-C

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Qualifications for tax forgiveness

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February 11, 2021
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linaj20201

If you are referring to a 1099-C, here is the information:

If it is a cancellation of debt on your main home, it will be excludable. See steps below to file with TurboTax. If it is for other types of cancellation of debt other than your main home, for example, like credit card, student loan etc., you might want to consult a tax professional. Here are the steps:

In TurboTax online,

Sign into your account, select Pick up where you left off
At the right upper corner, under search, type in "1099c"
Select Jump to 1099c
Follow prompts

Note: In other uncommon situation, refer to IRS publication 4681 before proceeding, or consult with a professional tax preparer. For more information about cancellation of debt, click here: Form 1099-C