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1099 C Question

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    #1

    1099 C Question

    I asked this question the other day and everyone said just file your taxes as usual - no need to do anything special in terms of when you have a house that you included in bankruptcy that got foreclosed on.

    Then, someone else asked about a 1099 C the other day and everyone was saying to fill out a special form on Turbo Tax regarding the 1099 C. Form 9 something or other.

    So, should I wait until I get that 1099 C or can I file without it? Not sure what to do here...

    TIA~
    11/14/07 -filed C7 12/04/07 -case pulled for random audit.12/18/07 -341 held: Asset case due to engagement ring & tax return.02/19/08 - US trustee files motion to extend. 04/02/08- changed back to NO ASSET! I get my ring back and get to keep my tax return! :clapping: 04/28/08 -DISCHARGED!!! :yahoo::yahoo: 05/07/08 - CLOSED!!!
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    #2
    I think you should wait for the actual 1099 to arrive. There might be additional info. on that form that you may have to enter.

    Comment

      #3
      Go ahead and file. If you get a 1099C, you can always amend the return.
      I filed bk in 05 and I never received a 1099C from any of my creditors. You may be waiting for something that never occurs.

      Comment

        #4
        Hmmm....should I call Wells Fargo and ask if they are going to be sending one?
        11/14/07 -filed C7 12/04/07 -case pulled for random audit.12/18/07 -341 held: Asset case due to engagement ring & tax return.02/19/08 - US trustee files motion to extend. 04/02/08- changed back to NO ASSET! I get my ring back and get to keep my tax return! :clapping: 04/28/08 -DISCHARGED!!! :yahoo::yahoo: 05/07/08 - CLOSED!!!

        Comment

          #5
          No, because they really should be sending you a 1099-A rather than a 1099-C. Just file with what information has been provided to you.

          Read the publication IRS publicatio #4681 here - it explains how the file when you have had a BK or repo or debt forgiven
          http://www.irs.gov/pub/irs-pdf/p4681.pdf
          Filed CH 7 9/30/2008
          Discharged Jan 5, 2009! Closed Jan 18, 2009
          I am not an attorney. None of my advice is legal advice in any way..

          Comment

            #6
            Originally posted by DivorceRuinedMe View Post
            Hmmm....should I call Wells Fargo and ask if they are going to be sending one?
            REmember outfits have until the 31st to send out these forms.

            Comment

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