C Corporation receives 1099-C Canceled Debt

LinkBack

Thread Tools

Search this Thread

Display Modes

#1 (permalink)

02-04-2011, 11:50 AM

Suzanne

Junior Member

Join Date: Feb 2011

Posts: 1

C Corporation receives 1099-C Canceled Debt

Last year settled business card debt. We have a C-Corp and not sure where to add this on the 1120 Return. Would it be under other income?

« How to file 2009 1096/1099? | 28 year inactive corp in NJ »

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts vB code is On Smilies are On [IMG] code is On HTML code is Off Trackbacks are Off Pingbacks are Off Refbacks are Off

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Cancellation of Debt Question	bobadams	Miscellaneous	1	03-08-2010 11:00 PM
Californians who lose their homes may face state income debt on cancelled debt!!	TaxGuru	California	0	09-09-2009 10:57 AM
Mortgage Debt Forgiveness	Samatg	For 2008	0	03-05-2009 04:20 PM
Tax Debt Relief	Baynard2424	Miscellaneous	2	03-03-2009 06:46 PM
Bad Debt-3099c	sappa	Income	1	03-17-2008 10:19 PM

» Categories

Ask TaxGuru?

Individual

» Income

» Estimated Taxes

» Capital Gains

» Itemized Deductions

» IRA/Sep

» Rental Real-Estate

» Alternative Minimum Tax

» Filing Requirements

» Sole-Proprietorship

» Medical

» Auto Expenses

» Social Security

» Tax Credit

» Depreciation

» Divorce Tax Issues

» Homeowner Tax

» Multistate

Corporations

» C-Corporation

» S-Corporation

» Limited Liability Company

» Payroll

» Multistate Tax Issues

» Non-Profit Organisation

» Trusts and Gift Tax Returns

Forum for CPAs

» CPA Forums

Financial Planning

» Estate Planning

» Retirement Planning

» Investment Strategy

» Education Planning

» Life Insurance

» Tax News

» Tax Calculators

» Downloads

» Contact Us

» Latest Tax Tips
How can I obtain the IRS 2021 Form W-7 with the...
IRS extends C Corporation filing date to May 17, 2021
Which Taxpayer Qualifies for Advance Payments?
How do you get a "147C Online- EIN Designation Confirmation...
What are the Foreign Earned Income Exclusion for 2019?

» Recent Tax Q&A
No Threads to Display.

» Free Downloads

Latest Files

What Are the Important Highlights Of 2010 Tax Law
EzWagez Payroll System
TurboCASH
AlauxSoft Accounts and Budget
Gas Mileage MPG Tracker