Help - The 1099-A Process

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What is the process to get a company to use a 1099-C?

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Andrew

I am trying the coupon method currently, trying to get debts paid off. I can't get my hands on any 1099-A forms. Chris briefly mentions 1099-C cancellation of debt, but does not go into details on what the process is. Is it a simple letter to the company that the debt is owed? is there an example of such a letter?

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Andrew
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understood, but in his videos he mentions that it can be used but does not go into details on how.

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Administrator
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The one how is owed a debt can use the 1099-C to cancel the debt. If you are not owed a debt there you have no need for the 1099-C.

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Best Answer

Chris states that the beneficiary does not use 1099-C, that it is for the financial institution to use. This form is not used in the process that Chris teaches. 

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