1099-c

[SueBaby]

Canceled debt on a car for $9,267. Does that go on other income or form 982?

[AZ-Tax]

Pg 1 form 1040 line 21 other income

With ProSeries software, if I double click on line 21, it opens up a form that list several types of other income and 1099-C is one of them.

[SueBaby]

With ProSeries software, if I double click on line 21, it opens up a form that list several types of other income and 1099-C is one of them.

THANKS Because I was looking to put it on form 982, but you are right it is other income.

[gkaiseril]

982

You can use the 982 to write down asset values and try reduce the additional income generated by the 1099-C.

[SueBaby]

You can use the 982 to write down asset values and try reduce the additional income generated by the 1099-C.

I tried that they don't have much to do that. I just put the whole thing on income. They live in a housetrailer and nothing to go with on that form. That was the car they could not afford and they had medical bills, that was it.