Student Loan Forgiveness: 1099-C Form from Nelnet Not Received Yet After Biden-Harris IDR Forgiveness ($8,825 Forgiven on 12/31/2023)

Got my loans forgiven through Nelnet as part of the Biden-Harris Administration's one-time account adjustment. I just received the notification saying "Congratulations! The Biden-Harris Administration has forgiven your federal student loans listed below with Nelnet in full." This forgiveness was processed because my student loans have been in repayment for at least 20 or 25 years. The adjustment updated the number of payments that qualify towards income-driven repayment (IDR) forgiveness. The forgiveness is effective as of 12/31/2023. My forgiven loans were: - DIRECT SUB loan, disbursed 01/03/06, Original Principal Balance $3,725.00 - DIRECT UNSUB loan, disbursed 01/03/06, Original Principal Balance $5,100.00 The notification also mentions "Due to the American Rescue Plan Act of 2021 the balance of your loans that were forgiven is not considered taxable income for federal income tax purposes. Since state and local tax implications will vary, we recommend you contact a tax advisor for more information." Still waiting on my 1099-C form. Anyone else in this situation or received theirs already? Need it for my taxes and getting worried. I logged into my Nelnet.studentaid.gov account but couldn't find the tax form. The message said to log in for more details but there's nothing about the tax form. Has anyone with IDR forgiveness received their tax documents yet?

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21 comments

Jayden Reed

•5M

I'm in the same situation! Got my IDR forgiveness notification in December but still waiting on the 1099-C from Nelnet. Called their customer service last week and they said they're processing them in batches through the end of January. Since yours was forgiven on 12/31/2023, you should definitely get one even though it's not taxable federally. Keep checking your Nelnet account online - mine said they'll post it there first before mailing. Don't panic yet, we still have a few more days before the January 31st deadline!

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Michael Green

•4M

I'm in a similar situation - got my IDR forgiveness notification in late December but still waiting on my 1099-C from Nelnet too. From what I've read, they're required to send them by January 31st, so we should be getting them soon. I called Nelnet last week and the rep told me they're sending them out in waves based on when the forgiveness was processed. She also mentioned that even though the forgiven amount isn't taxable federally due to the American Rescue Plan, we'll still receive the 1099-C for record-keeping purposes. Keep checking your online account - that's where mine will show up first before the physical copy arrives in the mail. Hang in there!

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Connor Gallagher

•3M

I'm in the exact same boat! Got my IDR forgiveness notification from Nelnet in December for loans that were forgiven on 12/31/2023, but still no 1099-C form. I've been checking my online account daily and even called their customer service twice. The first rep told me they're sending them out in batches through January 31st, and the second one said they're prioritizing based on forgiveness processing date. Even though we won't owe federal taxes on the forgiven amount thanks to the American Rescue Plan, we still need the form for our records and potential state tax implications. I'm trying not to stress since we're still within the deadline, but it's definitely nerve-wracking when you're trying to get your taxes done early! 📋💸

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