https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Taxes-on-Forgiven-Debt/m-p/5928486#M611079 <P>Congratulations with your settlement!&nbsp;</P> Sun, 23 Feb 2020 22:10:56 GMT Anonymous 2020-02-23T22:10:56Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Taxes-on-Forgiven-Debt/m-p/5928484#M611078 <P>Hi Everyone,&nbsp;<BR /><BR /></P><P>On January 6th I settled with Midland. The amount for forgiven debt is 257.59. I know they will not send a 1099-C since is is under $600 but I still need to report it. However, when will I need to report it? This years taxes or next? I am unable to find any information on this anywhere!&nbsp;<BR /><BR /></P><P>Thanks!&nbsp;</P> Sun, 23 Feb 2020 22:09:12 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Taxes-on-Forgiven-Debt/m-p/5928484#M611078 Anonymous 2020-02-23T22:09:12Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Taxes-on-Forgiven-Debt/m-p/5928486#M611079 <P>Congratulations with your settlement!&nbsp;</P> Sun, 23 Feb 2020 22:10:56 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Taxes-on-Forgiven-Debt/m-p/5928486#M611079 Anonymous 2020-02-23T22:10:56Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Taxes-on-Forgiven-Debt/m-p/5928494#M611080 <P>I do not know for sure but logic says if it was forgiven in 2020, you'd report it next spring when filing taxes for 2020.&nbsp;</P> Sun, 23 Feb 2020 22:24:20 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Taxes-on-Forgiven-Debt/m-p/5928494#M611080 Anonymous 2020-02-23T22:24:20Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Taxes-on-Forgiven-Debt/m-p/5928515#M611081 <P>If paid in January of this year, 1099 would come next January. You would file with next years filing</P> Sun, 23 Feb 2020 22:49:16 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Taxes-on-Forgiven-Debt/m-p/5928515#M611081 blindambition 2020-02-23T22:49:16Z