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March 9, 2020
Question

When we filed for our 1099-C TurboTax only asked for the total of all the 1099-C we have but it did not asked in regards of the lenders/creditors informations, is this normal?

  • March 9, 2020
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1 reply

March 9, 2020

Yes, the only information the IRS requires is the amount of debt that was cancelled so the income taxes could be calculated.

 

Note: If you received a 1099-C for your main home and another 1099-C for something else (like a credit card, car loan, or second mortgage) you won't be able to use TurboTax, as we don't support this.

To enter your 1099-C:

  1. Open or continue your return, if it isn't already open.
  2. From the upper right menu, select and search for 1099-C or 1099C (lower-case also works).
  3. Select the Jump to link at the top of the search results.
    • If using Free Edition or TurboTax Live Basic, follow the prompts to upgrade to Deluxe.
  4. On the Tell us about your canceled debt screen, select Yes.
  5. Select the type of canceled debt (main home or other) and then select Continue.
  6. Follow the instructions to enter info from your 1099-C.

Related Information:

Source: TurboTax FAQ

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