QUESTION
What can I do to settle a 1099C from a collection agency?
Asked on May 01st, 2013 on Taxation - Michigan
More details to this question:
I was issued a 1099 C from a collection agency representing capitol one for $2300 even though the discharge amount was $607 dollars and from 2001. The 1099C was for the 2010 tax year even though I never received one.
1 ANSWER
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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See a tax attorney or an accountant with the details. The IRS considers forgiveness of debt income but there are exceptions.
Answered on May 07th, 2013 at 2:38 PM