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Do I have to file a 1099 C on my tax return?

Asked by: covici 286 views YA Discussion

I filed a bk and received a 1099-C for $ 24,000 from a heloc I have on a foreclosed home. Do I have to file this with my 2012 income tax?

How others found here:

  • what do you do with irs form 982 on new york tax return
  • 2013 INCOME TAX RETURN / DO YOU HAVE TO FILE FORM 982 WHEN THE 1099-C IS CODED AS BANKRUPTCY?
  • do i file a 1099-c with my tax return

1 Answers



  1. Quick Answers on Jan 27, 2013 Reply

    Unless there is a bankruptcy trustee filing a return for you, this needs to go on YOUR return.

    If the debt was discharges in bankruptcy, go directly to form 982 filling in both parts. If the debt was NOT discharged, you have to prove insolvency first or show that this was money used to buy your home.

    Part II is not easy, so I would recommend hiring someone.

    There is some information in IRS pub 4681.

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