Really could use some guidance. If 1099-C was from a partnership - but the partners took the credit card and did the cancellation of them in there name - can it be used in there personal tax return being insolvent since the reason they closed was the debt was so bad they shut down. Have some charge card in personal name and some in the partnership - and not for sure how to handle them. I think I'm on the right track - but need some other in put on it.
Help if anyone knows.
Thanks
Help if anyone knows.
Thanks