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BankersOnline.com Forums Banker Forums Operations Compliance 1099 C
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#2159616 - 01/08/18 07:48 PM 1099 C
SUSANE1 Offline
Platinum Poster
Joined: Mar 2008
Posts: 808
once you charge off a loan - do you have 36 months to submit a 1099 C? or do you have to wait 36 months to submit a 1099 C?

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Operations Compliance
#2159618 - 01/08/18 07:56 PM Re: 1099 C SUSANE1
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
Are you not planning to do any further collection activities and you are abandoning the debt??

See page 4: https://www.irs.gov/pub/irs-pdf/i1099ac.pdf
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#2159624 - 01/08/18 08:11 PM Re: 1099 C SUSANE1
SUSANE1 Offline
Platinum Poster
Joined: Mar 2008
Posts: 808
no further collection activities and yes - abandon the debt.
thanks

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