Get Irs Instruction 1099-a & 1099-c 2014
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C indicates that a lender has forgiven a portion of your debt, and this can be treated as income by the IRS. This means you may owe taxes on the forgiven amount if you do not qualify for an exclusion. For more detailed information, check IRS Instruction 1099A & 1099C and consider seeking help from a tax expert. Taking proactive steps can ease your tax process.
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