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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Dmitry Ivanov
Tax professional here. For student loan forgiveness, the 1099-C forms are required to be sent out by January 31st. If you haven't received it yet, log into your Nelnet account - they sometimes post them electronically before mailing. Also, check your spam folder for any emails about it.
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Sofia Rodriguez
•thanks! i checked my account but dont see anything yet. getting nervous since its already february 😬
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Dmitry Ivanov
•No worries! You can always request a duplicate from Nelnet directly. Just call their customer service line.
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Ava Thompson
Hey guys instead of stressing about this, I've been using taxr.ai to figure out all my tax document situations. It's only $4.99 and the AI actually explains everything about your tax situation in plain english. Way better than waiting on hold forever with the IRS or nelnet tbh https://taxr.ai
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Miguel Herrera
•for real? how does it work exactly? 🤔
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Ava Thompson
•you just upload your tax docs and transcripts and it explains everything. saved me hours of research and stress
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Miguel Herrera
•just tried it and OMG where has this been all my life?! totally worth the 5 bucks 💯
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Zainab Ali
in the same boat! my loans were forgiven in december and still no 1099c smh
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Connor Murphy
Mine showed up in my mailbox yesterday! Keep an eye out, theyre definitely sending them
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Sofia Rodriguez
•wat state r u in? maybe they're going by region
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Connor Murphy
•Im in Texas
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Yara Nassar
these clowns always taking their sweet time with important docs fr fr 🤡
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StarGazer101
•ong they do this every year with something different 🤣
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Keisha Jackson
Anyone know if we have to pay taxes on the forgiven amount? asking for a friend...
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Dmitry Ivanov
•Depends on the type of forgiveness program. Most federal loan forgiveness is tax-free through 2025 thanks to the American Rescue Plan.
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Jayden Reed
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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