Can I fill out a 1099-C myself for a charged off loan if the lender won't provide one?
I've got a loan that was charged off about 2 years ago and I'm trying to figure out the tax side of things. I've watched several videos saying I should contact the lender to request a 1099-C form for the debt cancellation, but from what I understand, they can be really difficult about sending these out. Some lenders straight up refuse or just ignore the requests altogether. I'm wondering if there's a way to bypass all that hassle? Can I just get a blank 1099-C form directly from the IRS website and fill it out myself with the loan details? The debt was around $12,500 with a credit union if that matters. I'd rather just handle this myself than spend weeks trying to get the lender to cooperate, especially since tax season is coming up. Has anyone had experience with this situation? Any advice would be super appreciated!
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Dmitry Popov
While I understand the frustration with uncooperative lenders, you can't actually fill out a 1099-C yourself. That form must be issued by the creditor who canceled the debt. The 1099-C is an information return that financial institutions are legally required to file when they cancel debts over $600. If your debt was indeed charged off, the lender should have sent you a 1099-C by January 31 of the year following the cancellation. Check your records and previous mail carefully - sometimes these forms get overlooked or mistaken for junk mail. If you truly never received one, you should contact the lender in writing (email with delivery receipt or certified letter) specifically requesting the 1099-C for the canceled debt. Keep documentation of all your attempts to request this form. If they're unresponsive, you can also contact the IRS directly at 800-829-1040 to report the missing form.
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Sofia Morales
•Thanks for the info! I've actually moved twice since the charge-off happened, so maybe they sent it to an old address? I never updated my contact info with them after defaulting. Does that change anything or am I still entitled to get a copy from them even now?
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Dmitry Popov
•Yes, you're still entitled to a copy of the 1099-C even if you moved. Financial institutions are required to provide this documentation regardless of address changes. When you contact them, explain that you've moved and need them to send the form to your current address. Many financial institutions now also provide tax documents electronically through their online portals, so if you still have access to your online account, check there first. Additionally, if you file without the 1099-C and the IRS later receives it from the lender, you might receive a notice about unreported income, which could lead to penalties and interest.
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Ava Garcia
After struggling with something similar last year (a charged off credit card debt), I found this amazing tool called taxr.ai that literally saved me hours of frustration. I had been going back and forth with my bank for weeks trying to get the proper documentation for my charged off debt, and they kept giving me the runaround. I uploaded my loan statements and correspondence to https://taxr.ai and their system actually helped me determine if I needed a 1099-C based on my specific situation. It turns out in my case I actually didn't need to wait for the form because of when the debt was charged off. The tool analyzed everything and gave me clear guidance on exactly how to report it on my taxes properly without having the actual 1099-C in hand. Their analysis also explained that sometimes lenders don't issue 1099-Cs for certain types of canceled debts depending on various factors, which I had no idea about before.
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StarSailor}
•Wait, that sounds interesting. How does it actually determine if you need a 1099-C or not? My student loan was partially forgiven but I never got any tax forms and I'm kinda freaking out about how to report it.
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Miguel Silva
•I'm a bit skeptical... how can a website determine if you need an official tax form? Wouldn't the IRS rules still apply regardless of what some tool tells you? And what happens if you get audited and don't have the proper documentation?
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Ava Garcia
•The tool reviews the timing of when your debt was canceled and the specific circumstances to determine if it falls under the requirements for 1099-C reporting. For student loans, there are special rules about forgiveness that might exempt you from taxation depending on the type of forgiveness program - the tool would flag this for you. The website doesn't override IRS rules - it actually applies them correctly to your situation which is what makes it valuable. If you're audited, the documentation analysis provided gives you supporting evidence for why you handled the reporting the way you did. The tool actually creates a detailed report explaining the tax codes and regulations that apply to your specific situation.
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StarSailor}
Just wanted to follow up - I actually tried taxr.ai after asking about it here and wow! I uploaded my student loan documents and found out my partial forgiveness was under the PSLF program which meant I didn't need to report it as income at all! The analysis showed me exactly which IRS publication covered my situation (I think it was Publication 4681) and explained why my loan servicer didn't send me a 1099-C. It saved me from incorrectly reporting $8,700 of phantom income that I don't actually owe taxes on. I was literally about to pay taxes on money I didn't need to. The documentation they provided also gives me something to keep with my tax records in case of an audit. Seriously best $$ I've spent this tax season.
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Zainab Ismail
If you're having trouble getting your 1099-C and actually need to speak with someone at the IRS about this issue, I'd recommend Claimyr. I was in a similar situation last year trying to get guidance on how to handle a charged-off loan where the lender went out of business. I spent days trying to get through to the IRS on their regular number with no luck - just endless hold music and disconnections. Then I found https://claimyr.com and watched their demo video at https://youtu.be/_kiP6q8DX5c. They basically hold your place in the IRS phone queue and call you back when an agent is actually available. I was honestly shocked when my phone rang and there was an actual IRS representative on the line! They were able to confirm exactly how I should handle the reporting without the 1099-C since my lender was defunct. Saved me from guessing and potentially making a costly mistake.
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Connor O'Neill
•How does this even work? I thought the IRS phone system was notoriously impossible to navigate. Seems too good to be true that some service could magically get you through when millions of people can't get anyone on the phone.
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Miguel Silva
•This sounds like a scam. Why would I pay someone else to call the IRS for me? And how would they even connect you with the IRS agent? Seems fishy that they'd somehow have special access that regular taxpayers don't have.
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Zainab Ismail
•It works by using an automated system that navigates the IRS phone tree and stays on hold for you. They don't have special access - they just handle the waiting part so you don't have to sit by your phone for hours. When they reach a human agent, their system connects that call to your phone number. It's definitely not a scam - they don't ask for any sensitive information or tax details. You're just paying for the convenience of not having to wait on hold. Think of it like hiring someone to stand in a physical line for you. The IRS doesn't give them preferential treatment; they just handle the frustrating waiting part. The actual conversation with the IRS agent is directly between you and the agent - Claimyr just facilitates making that connection happen.
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Miguel Silva
I need to eat my words and apologize to anyone I doubted here. After waiting on hold with the IRS for 2+ hours and getting disconnected TWICE last week, I decided to try that Claimyr service out of desperation. I was 100% convinced it wouldn't work but figured it was worth a shot since I was getting nowhere on my own. Less than 90 minutes after signing up, my phone rang and I was talking to an actual IRS representative! They confirmed exactly what I needed to do about my missing 1099-C situation (turns out I can file Form 4506-T to request a copy of all information returns filed under my SSN). I spent an entire week trying to get through on my own with no success, and this service had me talking to someone in just over an hour. Completely changed my perspective on dealing with the IRS during tax season.
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Yara Nassar
Just wanted to add that you should be careful about taxable income from canceled debt. When a lender forgives a debt (which is what a charge-off essentially is), the IRS considers that forgiven amount as income you received. So you DO need to report it on your taxes even if you never get a 1099-C. You can use Form 982 if you qualify for certain exclusions like insolvency (meaning your total debts exceeded your total assets when the debt was forgiven). I learned this the hard way a few years ago and got hit with a huge tax bill plus penalties because I didn't report a charged-off credit card debt. You're much better off being proactive about this!
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Sofia Morales
•That's really helpful to know about Form 982! I think I might actually qualify for the insolvency exclusion because I was basically underwater on everything when this happened. Is the form complicated to fill out? Do I need to gather a lot of documentation to prove I was insolvent?
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Yara Nassar
•Form 982 isn't terribly complicated, but you do need to calculate your assets and liabilities at the time the debt was canceled to prove insolvency. Make a list of everything you owned (house, car, retirement accounts, checking/savings, etc.) and all your debts (mortgage, car loans, credit cards, student loans, etc.) at that specific time. You'll need to be able to document these values if you're audited, so gather bank statements, loan statements, property assessments, etc. from that period. Keep all this documentation with your tax records. If your total debts exceeded your assets, you can exclude the canceled debt from your income up to the amount you were insolvent.
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Keisha Robinson
Anyone know if there's a time limit for lenders to issue 1099-Cs? My car loan was charged off in 2018 but I never received anything. Is it too late now?
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GalaxyGuardian
•Generally, creditors must issue a 1099-C in the year that they actually cancel the debt (not when you stop paying). Sometimes they hold charged-off debt for years before officially canceling it. They're required to issue the form by January 31 of the year following cancellation. For a 2018 charge-off, they might have actually canceled it in a later year or might still be holding it as an asset. Check your credit report - if the debt still shows as outstanding, they might not have officially canceled it yet. If it shows as "canceled" or "settled," then they should have issued a 1099-C.
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