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How do I determine insolvency when i have more than on 1099-c issued on different dates? do i complete the worksheet on each date that the 1099-c is issued?

Forum|Forum|7 years ago
June 4, 2019
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TurboTax Premier Mac

Best answer by Phillip1

Yes.

The insolvency worksheet would need to be completed for each date from separate 1099-Cs. This is due to the fact that the insolvency amount would have changed after each date that debt was cancelled.

P

Phillip1Answer

Employee

Yes.

The insolvency worksheet would need to be completed for each date from separate 1099-Cs. This is due to the fact that the insolvency amount would have changed after each date that debt was cancelled.

D

dfaulk83Author

Turbo Tax is not giving the option to add individual 1099-Cs - how is it done? Also, how do you access the Insolvency worksheet.

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shmince

I have the desktop version Home and Business 2021. In this version we go to View > Forms > Open Form > Type a form name. Here, you'll type 1099-c > click on the form > Open Form. At the bottom of the 1099-c you'll see a series of QuickZoom buttons. The top links you to a window where you can create another 1099-c. There is also an empty field that will allow you to create another worksheet simply by double-clicking the empty field.

If you've been using the Step-by-Step view to input your cancelled debt that you totaled from all of you 1099-c's, you may have to go back to that view and delete the amount you've entered before entering it manually in the form view (or it may not allow you to edit your totaled amount).

Hope that helps.