Q: IRS claims forgiven debt as income, no 1099-C received
I filed my income tax return for 2025, but the IRS claims that my forgiven credit card debt from JPMorgan Chase should be reported as income. I was not notified of the debt cancellation and did not receive a Form 1099-C. This notice from the IRS was unexpected. The forgiven debt amount was approximately $13,000. I don't have any related documentation, and this situation requires me to repay the refund I received. How should I proceed to resolve this with the IRS and ensure I comply properly?
A:
The fact that you did not receive a Form 1099-C does not exempt you from reporting the forgiven debt as income. Contacting JP Morgan to inquire about issued 1099-C could be first step.
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