Form 1099-C (Rev. April 2025)

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8585

VOID

CORRECTED

CREDITOR’S name, street address, city or town, state or province, country,
ZIP or foreign postal code, and telephone no.

1 Date of identifiable event

OMB No. 1545-1424

2 Amount of debt discharged

Form

1099-C

$

(Rev. April 2025)

3 Interest, if included in box 2

For calendar year

Cancellation
of Debt

$
CREDITOR’S TIN

DEBTOR’S TIN

Copy A

4 Debt description

For
Internal Revenue
Service Center

DEBTOR’S name

5 Check here if the debtor was personally liable for
repayment of the debt . . . . . . .

Street address (including apt. no.)

.

City or town, state or province, country, and ZIP or foreign postal code
6 Identifiable event code

Account number (see instructions)

7 Fair market value of property

$
Form 1099-C (Rev. 4-2025)

Cat. No. 26280W

www.irs.gov/Form1099C

For filing information,
Privacy Act, and
Paperwork Reduction
Act Notice, see the
General
Instructions for
Certain Information
Returns.
www.irs.gov/Form1099

Department of the Treasury - Internal Revenue Service

Do Not Cut or Separate Forms on This Page — Do Not Cut or Separate Forms on This Page

CORRECTED (if checked)
CREDITOR’S name, street address, city or town, state or province, country,
ZIP or foreign postal code, and telephone no.

1 Date of identifiable event

OMB No. 1545-1424

2 Amount of debt discharged

Form

1099-C

$

(Rev. April 2025)

3 Interest, if included in box 2

For calendar year

Cancellation
of Debt

$
CREDITOR’S TIN

DEBTOR’S TIN

Copy B

4 Debt description

For Debtor
DEBTOR’S name

Street address (including apt. no.)
City or town, state or province, country, and ZIP or foreign postal code
Account number (see instructions)

This is important tax
information and is being
furnished to the IRS. If
you are required to file a
return, a negligence
5 If checked, the debtor was personally liable for
penalty or other
repayment of the debt . . . . . . . .
sanction may be
imposed on you if
taxable income results
from this transaction
and the IRS determines
6 Identifiable event code
7 Fair market value of property
that it has not been
reported.

$

Form 1099-C (Rev. 4-2025)

(keep for your records)

www.irs.gov/Form1099C

Department of the Treasury - Internal Revenue Service

Instructions for Debtor

You received this form because a federal government agency or an applicable
financial entity (a creditor) has discharged (canceled or forgiven) a debt you
owed, or because an identifiable event has occurred that either is or is deemed
to be a discharge of a debt of $600 or more. If a creditor has discharged a debt
you owed, you are required to include the discharged amount in your income,
even if it is less than $600, on the “Other income” line of your Form 1040 or
1040-SR. However, you may not have to include all of the canceled debt in your
income. There are exceptions and exclusions, such as bankruptcy and
insolvency. See Pub. 4681, available at www.irs.gov/Pub4681, for more details.
If an identifiable event has occurred but the debt has not actually been
discharged, then include any discharged debt in your income in the year that it
is actually discharged, unless an exception or exclusion applies to you in that
year.
Debtor’s taxpayer identification number (TIN). For your protection, this form
may show only the last four digits of your TIN (social security number (SSN),
individual taxpayer identification number (ITIN), adoption taxpayer identification
number (ATIN), or employer identification number (EIN)). However, the creditor
has reported your complete TIN to the IRS.
Account number. May show an account or other unique number the creditor
assigned to distinguish your account.
Box 1. Shows the date the earliest identifiable event occurred or, at the
creditor’s discretion, the date of an actual discharge that occurred before an
identifiable event. See the code in box 6.
Box 2. Shows the amount of debt either actually or deemed discharged. Note: If
you don’t agree with the amount, contact your creditor.
Box 3. Shows interest if included in the debt reported in box 2. See Pub. 4681 to

see if you must include the interest in gross income.
Box 4. Shows a description of the debt. If box 7 is completed, box 4 also shows
a description of the property.
Box 5. Shows whether you were personally liable for repayment of the debt
when the debt was created or, if modified, at the time of the last modification.
See Pub. 4681 for reporting instructions.
Box 6. Shows the reason your creditor has filed this form. The codes in this box
are described in more detail in Pub. 4681. A—Bankruptcy; B—Other judicial
debt relief; C—Statute of limitations or expiration of deficiency period; D—
Foreclosure election; E—Debt relief from probate or similar proceeding; F—By
agreement; G—Decision or policy to discontinue collection; or H—Other actual
discharge before identifiable event.
Box 7. If, in the same calendar year, a foreclosure or abandonment of property
occurred in connection with the cancellation of the debt, the fair market value
(FMV) of the property will be shown, or you will receive a separate Form 1099-A.
Generally, the gross foreclosure bid price is considered to be the FMV. For an
abandonment or voluntary conveyance in lieu of foreclosure, the FMV is
generally the appraised value of the property. You may have income or loss
because of the acquisition or abandonment. See Pub. 4681 for information
about foreclosures and abandonments. If the property was your main home, see
Pub. 523, available at www.irs.gov/Pub523, to figure any taxable gain or
ordinary income.
Future developments. For the latest information about developments related to
Form 1099-C and its instructions, such as legislation enacted after they were
published, go to www.irs.gov/Form1099C.
Free File Program. Go to www.irs.gov/FreeFile to see if you qualify for no-cost
online federal tax preparation, e-filing, and direct deposit or payment options.