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1099-c form?

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Yoli14
Regular Contributor
‎02-01-2012 04:00 PM
‎02-01-2012 04:00 PM

1099-c form?

I had a collection from CapitalOne that was reporting after 7yrs, so I reported it and it was removed. Now I have this that I need to report as earn income!? Can anyone please give me some advice?
Myfico on 02/21/12
Trans: 538 EQ: 591 Ex???
Myfico on 10/09/12
Trans: 600 EQ 602 EX???
Lender Pull 04/15/13
Trans 680, EQ 644, Ex 608
"I'm not telling you it is going to be easy, I'm telling you it's going to be worth it"
Message 1 of 3
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2 REPLIES 2
JuJuBee84
Regular Contributor
‎02-01-2012 04:01 PM
‎02-01-2012 04:01 PM

Re: 1099-c form?

I know just from personal experience if you settle an outstanding debt and more than $600 of that debt is forgiven, you do have to claim that as income.

Message 2 of 3
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Yoli14
Regular Contributor
‎02-01-2012 04:06 PM
‎02-01-2012 04:06 PM

Re: 1099-c form?

Thanks!
Myfico on 02/21/12
Trans: 538 EQ: 591 Ex???
Myfico on 10/09/12
Trans: 600 EQ 602 EX???
Lender Pull 04/15/13
Trans 680, EQ 644, Ex 608
"I'm not telling you it is going to be easy, I'm telling you it's going to be worth it"
Message 3 of 3
0 Kudos
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