Its asking about canceled debt. I have no canceled debt.

Forum|Forum|2 years ago
April 12, 2024
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TurboTax Deluxe Online

SharonD007

Did you receive a Form 1099-C? You receive that form if your creditor cancels a debt that you owe them. The IRS considers the canceled debt as income.

Refer to the TurboTax article When to Use Tax Form 1099-C for Cancellation of Debt and Guide to Debt Cancellation and Your Taxes for more information.

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lildutchie

It won't let me file electronically because it says I need to complete Debt Cancellation form. I have not cancelled debt. it there somewhere else in the forms that refer back to the Debt Cancellation form?

mglauner

Did you enter a 1099-C in your return? If so, that's a debt cancellation.

If not, scroll down the income topics page all the way down to Miscellaneous Income, 1099-A, 1099-C. Click Update on 'Cancellation of Debt' and see if there's an entry there.

If not, you can delete Form 1099-C from your return. If you're using TurboTax Online, here's How to Delete Forms in TurboTax Online. Clear your Cache and Cookies before trying to Efile again.

@lildutchie