1099 C 2018

Copy C For Creditor and Paperwork Reduction Act Certain Information To complete Form 1099-C use Returns and the 2018 Instructions for Forms 1099-A and 1099-C. For the latest information about developments related to Form 1099-C and its instructions such as legislation enacted after they were published go to www.irs.gov/Form1099C. 1220. The IRS does not provide a fill-in form option for Need help If you have questions about reporting on Form 1099-C call the information reporting customer service site toll free at 866-455-7438 or 304-263-8700 not toll free. 1 Date of identifiable event 2 Amount of debt discharged 3 Interest if included in box 2 CREDITOR S TIN DEBTOR S TIN OMB No. 1545-1424 Form 1099-C Copy A 4 Debt description For Internal Revenue Service Center DEBTOR S name Street address including apt. no. File with Form 1096. 4681. A Bankruptcy B Other judicial debt relief C Statute of limitations or expiration of deficiency period D Foreclosure election E Debt relief from probate or similar proceeding F By agreement G Decision or policy to discontinue collection or H Other actual discharge before identifiable event. Box 7. If in the same calendar year a foreclosure or abandonment of property occurred in connection with the cancellation of the debt the fair market value FMV of the property will be shown or you will receive a separate Form 1099-A. For Privacy Act and. Paperwork Reduction Act Notice see the 2018 General 7 Fair market value of property Certain Information Returns. 5 Check here if the debtor was personally liable for repayment of the debt. City or town state or province country and ZIP or foreign postal code Account number see instructions Cancellation of Debt 6 Identifiable event code 1099-C Cat. No. 26280W www.irs.gov/Form1099C Department of the Treasury - Internal Revenue Service Do Not Cut or Separate Forms on This Page Do Not Cut or Separate Forms on This Page CORRECTED if checked Copy B For Debtor This is important tax information and is being furnished to the IRS. If you are required to file a return a negligence 5 If checked the debtor was personally liable for penalty or other sanction may be imposed on you if taxable income results from this transaction and the IRS determines that it has not been reported. keep for your records You received this form because a Federal Government agency or an applicable financial entity a creditor has discharged canceled or forgiven a debt you owed or because an identifiable event has occurred that either is or is deemed to be a discharge of a debt of 600 or more. 5 Check here if the debtor was personally liable for repayment of the debt. City or town state or province country and ZIP or foreign postal code Account number see instructions Cancellation of Debt 6 Identifiable event code 1099-C Cat. No. 26280W www.irs.gov/Form1099C Department of the Treasury - Internal Revenue Service Do Not Cut or Separate Forms on This Page Do Not Cut or Separate Forms on This Page CORRECTED if checked Copy B For Debtor This is important tax information and is being furnished to the IRS. If you are required to file a return a negligence 5 If checked the debtor was personally liable for penalty or other sanction may be imposed on you if taxable income results from this transaction and the IRS determines that it has not been reported. keep for your records You received this form because a Federal Government agency or an applicable financial entity a creditor has discharged canceled or forgiven a debt you owed or because an identifiable event has occurred that either is or is deemed to be a discharge of a debt of 600 or more. If a creditor has discharged a debt you owed you are required to include the discharged amount in your income even if it is less than 600 on the Other income line of your Form 1040. However you may not have to include all of the canceled debt in your income. There are exceptions and exclusions such as bankruptcy and insolvency. However you may not have to include all of the canceled debt in your income. There are exceptions and exclusions such as bankruptcy and insolvency. See Pub. 4681 available at IRS.gov for more details. If an identifiable event has occurred but the debt has not actually been discharged then include any discharged debt in your income in the year that it is actually discharged unless an exception or exclusion applies to you in that year. Debtor s taxpayer identification number TIN. For your protection this form may show only the last four digits of your TIN social security number SSN individual taxpayer identification number ITIN adoption taxpayer identification number ATIN or employer identification number EIN.