dr58lj15
Level 3
02-15-2022
09:00 PM
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My client received a 1099C for her husband for 2021 who died in 2019. His final return was filed for 2019. Do I have to file this? The income canceled was $17K. It does not have the spouses' name on it.
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sjrcpa
Level 15
02-15-2022
09:03 PM
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It's income, potentially taxable income, to his estate.
The more I know the more I don’t know.
BobKamman
Level 15
02-15-2022
09:22 PM
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What kind of debt? Was the wife also liable? Did the husband leave an estate? Was it solvent? For a basic discussion, see
https://www.taxcpe.com/blogs/news/cancellation-of-debt-of-a-decedent
I don't see a distinction between "income" and "taxable income," but words don't matter, just taxes.
