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1099c and discharged?

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    1099c and discharged?

    I have searched on here and to me the word "discharged" means after your BK is over. I just got my first 1099c. it says the debt is cancelled and it also has not been claimed in my 13datacenter, even though it is listed in the scheduled amounts row.
    This is my first year in BK so would the amount still be considered as discharged? I don't want to list it wrong while filling out my taxes. Also, they can't still file a claim on it if they cancelled the debt, can they? Should I still fill out the tax paper 982 and mark it as discharged? We just received it today so I'm glad we were late on filing our taxes in case I have to include this with it.

    #2
    The debt noted on the 1099C form is considered discharged because you filed bk and named the creditor as a part of the filing. File Form 982 with your taxes to tell the IRS that the sum on the 1099 should be excluded from your income by reason of your bankruptcy. This debt will be permanently erased, with no further tax consequences to you, as long as your 13 is finished successfully.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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      #3
      Thank you.

      Comment

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