1099-C surprise: Canceled debt often taxable as income

CreditCards.com interviews The Tax Institute's Alison Flores in an article explaining why every year more than 6 million taxpayers who have successfully resolved credit card debts must report some portion of the forgiven debt as income on their federal income tax returns.

By: Jayme White  /  February 29, 2016

CreditCards.com interviews The Tax Institute's Alison Flores in an article explaining why every year more than 6 million taxpayers who have successfully resolved credit card debts must report some portion of the forgiven debt as income on their federal income tax returns.

Share
Author Name

Jayme White

Join Our Newsletter

Now you can receive timely news on the issues and topics that are relevant to today’s tax professionals.

Sign Up Now

Copyright © HRB Digital LLC. All Rights Reserved.

Homepage

Connect with H&R Block