Intuit HelpIntuitReporting Form 1099-C, Cancelation of debt on Form 1041 in Lacerte
by Intuit•3• Updated 2 years ago
The IRS hasn't provided guidance on how a cancelation of debt (Form 1099-C) should be reported on a fiduciary return. For further assistance, contact the IRS or refer to About Form 1099-C, Cancelation of Debt.
If the IRS suggests reporting the amount on Line 8, Other Income:
- Go to Screen 20, Other Income.
- Enter the Description.
- Enter the amount in the field labeled Income.
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