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Old 01-01-2018, 05:12 PM
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Question Responding to Bank who sent me erroneous 1099 C in 2015 tax Yr

A bank sent me an erroneous 1099 C for debt forgiven on property loan negotiated and settled in 2015. I filed taxes paid everything in full but now realize there is a mistake, contacted the bank multiple times and they won?t address it. I want to send a 1099 for amount of the error to correct the problem, what is the best way for me to file a 1099 with the bank and will then need to Amend my 2015 Fed & State return.



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Old 01-02-2018, 03:57 AM
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Needles to say, your bank is required to notify you and the IRS about debt discharges by filing Form 1099-C. It is less than crystal clear as to exactly when the banks are supposed to file 1099-C. your bank should have sent you the right/correct form the first time, and when you pointed out the error, it should have fixed it immediately , not shrugged it off by saying, There?s nothing we can do about it.Some tax lawyers advise that the smartest move is to go to the source, even through the bureaucracy of the company. Document your reason for disagreement with the form.however, getting through bank bureaucracy doesn?t always work. after the bank representative refused to help, you need to hire an attorney to help you. What the IRS?d tell you to do is to call the bank to get it corrected but if you?ve ever talked to the bank, you know how far that?s going to go or
I guess since the bank is not cooperative, you may try to contact the IRS for help.



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