I received 1099-C for my credit card that I cancelled. my 1040 is finished and I entered the 1099-c amount as other income on line 21. how do I report the amount on my 1040 line 21 to my california state tax schedule 540. thanks for your help.

“how do I report the amount on my 1040 line 21 to my california state tax schedule 540.”----> What isn’t commonly known is that creditors are required to report forgiven debts greater than $600 to the IRS on form 1099. In most cases this debt is treated as income and needs to be included on your income tax return.Your state's tax law for cancelled debts on 1099-C may differ from that of federal tax law. So, you need to consult a tax professional or contact CA Dept. of Revenue. to confirm your state's tax law about reporting cancelled debts as taxable income.