Question

If I did not receive a 1099-C for cancelled debt last year, how do I enter the amount that was cancelled?

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If you did not receive a 1099-C for a debt cancelled in 2020, you don't need to enter anything in your return this year.

You may receive it next year, or you may not receive one at all, depending on the type of debt.

If it was for a home you lived in, that may be the case, and you don't need to report it.

Click this link for more info on Debt Cancellation and Taxes to help you.

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