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How to Report Cancelled Debts on Tax Returns

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  • Block, Sandra. "Debt that's been forgiven is taxable, but you may be exempt." USA Today. Mar. 5, 2012. (Oct. 14, 2014) http://usatoday30.usatoday.com/money/perfi/columnist/block/story/2012-03-05/taxes-on-forgiven-debt/53373018/1
  • Detweiler, Gerri. "What is a 1099-C? Your Questions Answered." Yahoo! Finance. Jan. 30, 2013. (Oct. 14, 2014) http://finance.yahoo.com/news/1099-c-questions-answered-110011076.html
  • IRS. "Topic 431 - Canceled Debt – Is It Taxable or Not?" IRS.gov. Aug. 19, 2014. (Oct. 14, 2014) http://www.irs.gov/taxtopics/tc431.html
  • Nolo. "Tax Consequences When a Creditor Writes Off or Settles a Debt." Internet Brands. 2014. (Oct. 14, 2014) http://www.nolo.com/legal-encyclopedia/tax-consequences-settled-forgiven-debt-29792.html
  • TurboTax. "Guide to Debt Cancellation and Your Taxes." Intuit. 2014. (Oct. 14, 2014) https://turbotax.intuit.com/tax-tools/tax-tips/General-Tax-Tips/Guide-to-Debt-Cancellation-and-Your-Taxes/INF19992.html
  • Wood, Robert W. "Ten Things To Know About COD Income." Forbes. Feb. 16, 2010. (Oct. 14, 2014) http://www.forbes.com/2010/02/16/tax-cancelled-debt-income-mortgage-personal-finance-robert-wood.html

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