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Form 1099-C of late spouse with no Estate

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    #1

    Form 1099-C of late spouse with no Estate

    One client received her late husband's 2020 Form 1099-C from his credit cards. He passed away in 2018 and no more Estate for him.
    Does the surviving spouse required to include it in her tax return??? I looked Pub 4681etc. and it doesn't help.
    Tags: None
    #2
    Not that it technically matters, what is the dollar amount of the 1099-C?
    Last edited by BOB W; 03-27-2021, 08:51 PM.
    This post is for discussion purposes only and should be verified with other sources before actual use.

    Many times I post additional info on the post, Click on "message board" for updated content.

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      #3
      If the taxpayer passed away in 2018, someone must have informed the creditor in 2020 and they wrote off the balance and issued a 1099-C. What is the code? is it E?

      If E, spouse is not required to include it in her income because she is no longer filing MFJ. You already told us that there is no longer estate assets.
      Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

      Comment

        #4
        The amount is $16,000 and the code is G.

        Comment

          #5
          See the link below and also TTB

          Credit card debt after death: Who’s responsible and what’s forgiven?
          https://www.creditkarma.com/credit-cards/i/credit-card-debt-after-death
          Credit card debt typically isn’t passed on to relatives after death, but there are exceptions to this rule. Learn more.
          Always cite your source for support to defend your opinion

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