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IRS Form 982
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sapling.com
How to Fill Out IRS Form 982 With Credit Card Debt | Sapling
The Internal Revenue Service considers that the cancellation or forgiveness of a taxpayer's indebtedness results in taxable income to the taxpayer. In the case that credit card debt in excess of $600 is forgiven, the taxpayer will typically receive Form 1099-C, Cancellation of Debt, from the credit card company.
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