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MGC94
MGC94
Level 7
February 8, 2022
Question

1099-C

  • February 8, 2022
  • 2 replies
  • 11 views

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

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2 replies

IRonMaN
IRonMaN
Level 15
February 8, 2022

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

Slava Ukraini!
    T
    TaxGuyBill
    Level 15
    February 8, 2022

    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-
      Just-Lisa-Now-Intuit Community Champion
      Intuit Community Champion
      February 8, 2022
      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
      ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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