MGC94
Level 7
‎02-08-2022 05:44 PM

1099-C. Do you write off the 1099-C so it isn’t income? 

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IRonMaN
Level 15
‎02-08-2022 05:45 PM

But the better question is - is it supposed to be income?


Slava Ukraini!
TaxGuyBill
Level 15
‎02-08-2022 05:48 PM

Then the question after that is if it is not supposed to be income, what is the reason it is not taxable?

Just-Lisa-Now-
Level 15
Level 15
‎02-08-2022 05:51 PM
everyone has a different situation, sometimes its taxable, sometimes they qualify for some or all of it to not be taxable.

https://www.irs.gov/taxtopics/tc431

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