Discussion:1099 cancellation of credit card debt of decedent
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Discussion Forum Index --> Basic Tax Questions --> 1099 cancellation of credit card debt of decedent
Discussion Forum Index --> Tax Questions --> 1099 cancellation of credit card debt of decedent
| 3 March 2008 | |
| This couple had been filing married filing joint. The husband passed away in 2006 and they filed married filing joint for 2006.
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| 3 March 2008 | |
| what do you mean 'there is no estate'? I just want to make sure we agree with the definitions first. | |
| 4 March 2008 | |
| Did the surviving spouse receive any property from her husband? If so, there is an argument for reporting the COD income on her return. | |
| 4 March 2008 | |
| Sorry, poor choice of words. All property was in both names and went to spouse at death. These two credit cards were in the decedents name only, and 1099s were issued-one in the name of the decedent and one in the name of the decedent's estate. Trying to figure out if these need to be reported on the widow's 2007 return.
For the record-never done an estate tax return, and no very little about estate tax. Any input would be appreciated. | |
| 10 July 2008 | |
| Oh that's a great news. Can anyone tell me about online share trading with credit card?
[edit] =Sam Credit Card Debt | |
| 10 July 2008 | |
| Samuel, I heard of a lady in Iowa did this, and got in a heap of trouble, lost her farm. Was it the company you're spamming for that did that to her? | |
| 10 July 2008 | |
| Some credit cards forgive debt upon death as a form of insurance to the holder. Might be worth researching this aspect if relevant. | |
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