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Debt Forgiveness | Cancellaiton of Debt | 1099C PDF Print E-mail

Did you receive a 1099C for Cancellation of Debt?

Did you know this might be Taxable?

Are you Insolvent or do you plan to file Chapter 11 Bankruptcy?

 

Below are some of the circumstances where Cancellation of Debt Income/1099C can be excluded:

  

  1. The discharge occurs in a Title 11 case
  2. The discharge occurs when the taxpayer is insolvent
  3. The indebtedness discharged is qualified farm indebtedness
  4. For taxpayers other than a C corporation, the indebtedness discharged is qualified real property business indebtedness (QRPBI)
  5. Qualified principal residence indebtedness (QPRI) discharged before 2010

 

Save your self a lot of money and contact us now.  email us as This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call us at 954-894-2003.

GET PROFESSIONAL HELP NOW!!!

 

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