Tag: 1099-c

By Gerri Detweiller.Earlier this year, questions poured in from readers grappling with how to deal with 1099-Cs they received from lenders reporting “canceled” or “forgiven” debt. I wrote a number of stories addressing the issues they raised, and vowed not to touch the topic again until next tax season.But the questions kept coming in.One kept nagging at me: What should you do if you get a 1099-C for a very old debt? Though I had written one story already on that subject, the fact that I couldn’t provide readers with a clearer solution bothered me.Take Dave, for example. He told us that in 1997 he was in an auto accident. He was out of work for eight months and could not pay his auto