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#1650783 - 01/13/12 03:52 PM 1099 C Help
Midnight Offline
Member
Midnight
Joined: Jun 2008
Posts: 69
Upper Mid West
Looking for some guidance on 1099c reporting. Our understanding is if a debit is over 10,000 and we're filing a 1099c and the debt is joint we need to report both parties. My question is do we report both parties on the same 1099c form or does each party get their own 1099c form? If they get their own form is the debt split between the forms or do we report the same (full) amount on each form?

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Audit
#1650819 - 01/13/12 04:42 PM Re: 1099 C Help Midnight
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
Top of page 4:

http://www.irs.gov/pub/irs-pdf/i1099ac.pdf

Instructions are a wonderful thing smile
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1651089 - 01/13/12 07:22 PM Re: 1099 C Help Midnight
Midnight Offline
Member
Midnight
Joined: Jun 2008
Posts: 69
Upper Mid West
Thank you rlcarey!

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