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Do you have to include 1099-c if you only got a letter in lieu with $0 in student debt was cancelled on loans and there were $0 in interest?

Forum|Forum|7 years ago
June 5, 2019
1 reply
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Student loans were completely repaid in 2017. "A total of $0
in student loan debt was cancelled on loans we serviced for you during the
tax year. Interest totaling $0
is included in this amount."

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Best answer by DanielV01

It depends. From this specific situation there is no canceled debt income to report. However, if you have a 1099-C that reports canceled debt for any other reason, you will need to report it. However, a letter in lieu suggests you did not receive a 1099-C, and therefore you have no canceled debt that would be income.

DanielV01Answer

Employee

It depends. From this specific situation there is no canceled debt income to report. However, if you have a 1099-C that reports canceled debt for any other reason, you will need to report it. However, a letter in lieu suggests you did not receive a 1099-C, and therefore you have no canceled debt that would be income.

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