Question about a 1099-C form
Hi Terry,
I am not sure if you will be able to answer my question, but maybe you will be able to send me to someone who can. My husband and I filed bankruptcy a long time ago. At least 15 years ago. Recently, I got a 1099-C from Kohls Credit Card about a cancellation of Debt. I haven’t had a Kolh’s Credit card since we filed bankruptcy. I was wonder if you may know why after all of these years I would be getting this? Thank you for any help you can provide!
Terry Says
Debt that is specifically listed and forgiven in bankruptcy is NEVER taxable! So I hope you kept your bankruptcy documents, listing the debts that were forgiven.
If the IRS asks you to pay on this 1099 C (cancellation of an obligation), you can prove that this amount is not taxable.
No idea why Kohl’s would suddenly start sending these out years later. If I had more time, I’d give them a call!!
