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- Re: 1099-c student loan
1099-c student loan
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ljeancpa
Level 1
a week ago
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Received 1099-C for student loans. Do those loans automatically qualify for the student loan forgiveness?
I entered the 1099-C normally and as usual it is taxable for federal income tax; however, if the loans are forgiven are they taxable? If they are not taxable, how and where do we enter the 1099-C.
Thanks
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rbynaker
Level 13
a week ago
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Devil's in the details but probably Section 108(f)(5) is relevant. I doubt you'll have enough info from just a 1099-C to see if the conditions are met but that should get you started down the rabbit hole.
Rick
