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March 22, 2025
Question

I am using Turbotax. I got Form 1099c from Vanguard for debt forgiveness. Apparently thats taxable too. How to enter this in Turbox. I am getting the right form

  • March 22, 2025
  • 1 reply
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    1 reply

    March 22, 2025

    Yes, cancellation of debt is income

     

    Here is how to enter this in TurboTax Online:

    • Navigate to Federal > Wages & Income > Miscellaneous Income, 1099-A, 1099-C > Start or Revisit
    • Proceed through the interview to enter the amount