Discussion:1009C issued to both maker and guarantor
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Discussion Forum Index --> Basic Tax Questions --> 1009C issued to both maker and guarantor
Discussion Forum Index --> Tax Questions --> 1009C issued to both maker and guarantor
| 18 February 2009 | |
| Hi My client had a bank loan and the bank foreclosed and issued out a 1099C for 18,000 to the corporation in the corporations federal id number and also issued out a second 1099c to my client in her social security number for the 18,000 cause she was a guarantor.
I am intending to report the COD income on the guarantor and "add and then subtract" the 1099C 18,000 to my clients 1040. What do you think? Thanks and have a great tax season | |
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