Form 1099-C

Form name:

Cancellation of Debt

IRC Section

6050P

Link to form:

https://www.irs.gov/pub/irs-pdf/f1099c.pdf

This form is used by applicable entities that discharge, in whole or in part, the indebtedness of any person during any calendar year.

• The name, address, taxpayer identification number and phone number of each creditor
• The name, address, and taxpayer identification number of the debtor
• The date of the discharge and the amount of the indebtedness discharged, and,

 

Please see Form 1099-C for all other information required to be reported.

Reporting threshold

$600 or more.

Due date to recipient

January 31.

Due date to IRS (paper filing)

February 28.

Due date to IRS (Electronic Filing)

March 31.