Tax Dilemma!!!! Debt Settlement
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| Mon, 02-16-2009 - 6:52pm |
I settled with a credit card this year. I've been through settlement before and so I know how it affects my taxes. I'm not quite sure how this happened, but I lost my 1099-C. In my head I have a memory of receiving a paper for my taxes probably about 2 months ago and thinking. "Oh...I'd better save this". I'm very good about saving papers, but somehow this one got away from me.
I called the bank the credit card was through (Juniper Bank). They didn't even know what to tell me. Then I called the debt settlement lawyers and they said they'd get back to me in an hour and it's been 5 days! I called the IRS and they said (in a recorded message) that I shouldn't even bother calling them until the 18th of this month and that I needed to contact the people who sent me the form (WHO???) Visa? Mastercard? I don't even remember which one it was.
Here's my question...if I know all the figures - For example - My original debt to this credit card was 10,000 and I settled for 7500 - Could I just claim 2500 in extra income? I really don't want to go through this hassle of trying to get a new 1099-C sent to me! Why did this happen to me? I need my tax refund so bad right now and I'm stuck without my paper!

Hugs, Abbie.
If you are completely sure of the amount, then I wouldn't worry about obtaining a copy and I'd go ahead and file.
HTH,
Robyn
Day after tomorrow will be the 18th.
The reason why I said that is because when I called the IRS, the recorded message made it seem like I couldn't get the paper from them, that I had to call the creditor. If the IRS could send me the paper, that would be easy! So I should call the IRS and ask for a replacement copy of my 1099-C? I'm sure people have lost tax papers before...
Edited 2/17/2009 9:29 am ET by abigailnh2
I'd call the lawyers again.. if nothing else, THEY should have the info on WHO you settled with, and therefore who you can call to get a copy.
***hugs.....I once lost
Teresa
http://www.affordingpickles.blogspot.com