Peachtree City, GA asked in Consumer Law for Georgia

Q: Do I have to report cancellation on a debt 1099

I co-signed on my daughter’s car, and she had to surrender due to change of circumstance. We’ve both received a 1099 for cancellation of debt 11 years later. Do we have to report this as income?

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1 Lawyer Answer
Carlos Figueroa Gutierrez
Carlos Figueroa Gutierrez
  • Ciudad de Mexico, Benito Juarez

A: its no necesary for the time

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