2nd guessing myself. Client had a 1099-C (new to me) for cancelled credit card debt. I did the worksheet form pub 4681 and she was most definetely insolvent at that time, more so than the cancelled debt. So I did, 982 and excluded the amount from income. Did I do that right?
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Insolvent
Sounds like the right outcome to me.
BMKBurton M. Koss
koss@usakoss.net
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The map is not the territory...
and the instruction book is not the process. -
Thank you so much!Comment
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