Federal Cancellation of Debt (Info Copy Only)
Extracted from PDF file 2022-federal-form-1099-c.pdf, last modified July 2022
Cancellation of Debt (Info Copy Only)Attention: Copy A of this form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. The official printed version of Copy A of this IRS form is scannable, but the online version of it, printed from this website, is not. Do not print and file copy A downloaded from this website; a penalty may be imposed for filing with the IRS information return forms that can’t be scanned. See part O in the current General Instructions for Certain Information Returns, available at www.irs.gov/form1099, for more information about penalties. Please note that Copy B and other copies of this form, which appear in black, may be downloaded and printed and used to satisfy the requirement to provide the information to the recipient. To order official IRS information returns, which include a scannable Copy A for filing with the IRS and all other applicable copies of the form, visit www.IRS.gov/orderforms. Click on Employer and Information Returns, and we’ll mail you the forms you request and their instructions, as well as any publications you may order. Information returns may also be filed electronically using the IRS Filing Information Returns Electronically (FIRE) system (visit www.IRS.gov/FIRE) or the IRS Affordable Care Act Information Returns (AIR) program (visit www.IRS.gov/AIR). See IRS Publications 1141, 1167, and 1179 for more information about printing these tax forms. 8585 VOID CORRECTED CREDITOR’S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. 1 Date of identifiable event OMB No. 1545-1424 2 Amount of debt discharged Form $ (Rev. January 2022) 3 Interest, if included in box 2 $ CREDITOR’S TIN DEBTOR’S TIN 1099-C For calendar year 20 Copy A 4 Debt description For Internal Revenue Service Center DEBTOR’S name Street address (including apt. no.) File with Form 1096. For Privacy Act and . Paperwork Reduction Act Notice, see the current General Instructions for 7 Fair market value of property Certain Information Returns. $ 5 Check here if the debtor was personally liable for repayment of the debt . . . . . . . City or town, state or province, country, and ZIP or foreign postal code Account number (see instructions) Cancellation of Debt 6 Identifiable event code Cat. No. 26280W www.irs.gov/Form1099C Department of the Treasury - Internal Revenue Service 1099-C (Rev. 1-2022) Do Not Cut or Separate Forms on This Page — Do Not Cut or Separate Forms on This Page Form CORRECTED (if checked) CREDITOR’S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. 1 Date of identifiable event OMB No. 1545-1424 2 Amount of debt discharged Form $ (Rev. January 2022) 3 Interest, if included in box 2 DEBTOR’S TIN Cancellation of Debt For calendar year 20 $ CREDITOR’S TIN 1099-C Copy B 4 Debt description For Debtor DEBTOR’S name Street address (including apt. no.) City or town, state or province, country, and ZIP or foreign postal code Account number (see instructions) This is important tax information and is being furnished to the IRS. If you are required to file a return, a negligence 5 If checked, the debtor was personally liable for penalty or other repayment of the debt . . . . . . . . sanction may be imposed on you if taxable income results from this transaction and the IRS determines 6 Identifiable event code 7 Fair market value of property that it has not been reported. $ Form 1099-C (Rev. 1-2022) (keep for your records) www.irs.gov/Form1099C Department of the Treasury - Internal Revenue Service Instructions for Debtor You received this form because a federal government agency or an applicable financial entity (a creditor) has discharged (canceled or forgiven) a debt you owed, or because an identifiable event has occurred that either is or is deemed to be a discharge of a debt of $600 or more. If a creditor has discharged a debt you owed, you are required to include the discharged amount in your income, even if it is less than $600, on the “Other income” line of your Form 1040 or 1040-SR. However, you may not have to include all of the canceled debt in your income. There are exceptions and exclusions, such as bankruptcy and insolvency. See Pub. 4681, available at www.irs.gov/Pub4681, for more details. If an identifiable event has occurred but the debt has not actually been discharged, then include any discharged debt in your income in the year that it is actually discharged, unless an exception or exclusion applies to you in that year. Debtor’s taxpayer identification number (TIN). For your protection, this form may show only the last four digits of your TIN (social security number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN), or employer identification number (EIN)). However, the creditor has reported your complete TIN to the IRS. Account number. May show an account or other unique number the creditor assigned to distinguish your account. Box 1. Shows the date the earliest identifiable event occurred or, at the creditor’s discretion, the date of an actual discharge that occurred before an identifiable event. See the code in box 6. Box 2. Shows the amount of debt either actually or deemed discharged. Note: If you don’t agree with the amount, contact your creditor. Box 3. Shows interest if included in the debt reported in box 2. See Pub. 4681 to see if you must include the interest in gross income. Box 4. Shows a description of the debt. If box 7 is completed, box 4 also shows a description of the property. Box 5. Shows whether you were personally liable for repayment of the debt when the debt was created or, if modified, at the time of the last modification. See Pub. 4681 for reporting instructions. Box 6. Shows the reason your creditor has filed this form. The codes in this box are described in more detail in Pub. 4681. A—Bankruptcy; B—Other judicial debt relief; C—Statute of limitations or expiration of deficiency period; D— Foreclosure election; E—Debt relief from probate or similar proceeding; F—By agreement; G—Decision or policy to discontinue collection; or H—Other actual discharge before identifiable event. Box 7. If, in the same calendar year, a foreclosure or abandonment of property occurred in connection with the cancellation of the debt, the fair market value (FMV) of the property will be shown, or you will receive a separate Form 1099-A. Generally, the gross foreclosure bid price is considered to be the FMV. For an abandonment or voluntary conveyance in lieu of foreclosure, the FMV is generally the appraised value of the property. You may have income or loss because of the acquisition or abandonment. See Pub. 4681 for information about foreclosures and abandonments. If the property was your main home, see Pub. 523 to figure any taxable gain or ordinary income. Future developments. For the latest information about developments related to Form 1099-C and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form1099C. Free File Program. Go to www.irs.gov/FreeFile to see if you qualify for no-cost online federal tax preparation, e-filing, and direct deposit or payment options. VOID CORRECTED CREDITOR’S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. 1 Date of identifiable event OMB No. 1545-1424 2 Amount of debt discharged Form $ (Rev. January 2022) 3 Interest, if included in box 2 20 Copy C 4 Debt description DEBTOR’S TIN Cancellation of Debt For calendar year $ CREDITOR’S TIN 1099-C For Creditor DEBTOR’S name Street address (including apt. no.) City or town, state or province, country, and ZIP or foreign postal code Account number (see instructions) For Privacy Act and Paperwork Reduction Act 5 Check here if the debtor was personally liable for Notice, see the repayment of the debt . . . . . . . . current General Instructions for Certain Information Returns. 6 Identifiable event code 7 Fair market value of property $ Form 1099-C (Rev. 1-2022) www.irs.gov/Form1099C Department of the Treasury - Internal Revenue Service Instructions for Creditor To complete Form 1099-C, use: • The current General Instructions for Certain Information Returns, and • The current Instructions for Forms 1099-A and 1099-C. To order these instructions and additional forms, go to www.irs.gov/EmployerForms. Caution: Because paper forms are scanned during processing, you cannot file certain Forms 1096, 1097, 1098, 1099, 3921, or 5498 that you print from the IRS website. Filing and furnishing. For filing and furnishing instructions, including due dates, and to request filing or furnishing extensions, see the current General Instructions for Certain Information Returns. Need help? If you have questions about reporting on Form 1099-C, call the information reporting customer service site toll free at 866-455-7438 or 304-263-8700 (not toll free). Persons with a hearing or speech disability with access to TTY/TDD equipment can call 304-579-4827 (not toll free).
Form 1099-C (Rev. January 2022)
More about the Federal Form 1099-C Corporate Income Tax TY 2022
We last updated the Cancellation of Debt (Info Copy Only) in December 2022, so this is the latest version of Form 1099-C, fully updated for tax year 2022. You can download or print current or past-year PDFs of Form 1099-C directly from TaxFormFinder. You can print other Federal tax forms here.
Related Federal Corporate Income Tax Forms:
|Form Code||Form Name|
|Form 1099-CAP||Changes in Corporate Control and Capital Structure|
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 1099-C from the Internal Revenue Service in December 2022.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form 1099-C
We have a total of twelve past-year versions of Form 1099-C in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
Form 1099-C (Rev. January 2022)
Form 1099-C (Rev. January 2022)
2020 Form 1099-C
2019 Form 1099-C
2018 Form 1099-C
2017 Form 1099-C
2016 Form 1099-C
2016 Form 1099-C
2014 Form 1099-C
2013 Form 1099-C
2013 Form 1099-C
2012 Form 1099-C
While we do our best to keep our list of Federal Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.