Discussion:1099-C includes Interest & Nonprincipal Amounts

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Discussion Forum Index --> Basic Tax Questions --> 1099-C includes Interest & Nonprincipal Amounts
Discussion Forum Index --> Tax Questions --> 1099-C includes Interest & Nonprincipal Amounts

PVVCPA (talk|edits) said:

February 19, 2009
If a 1099-C includes accrued interest and nonprincipal amounts (such as penalties, fines, fees and administrative costs) in Box 2 Amount Canceled, can these amounts be subtracted from the debt cancellation income reported on the 1040?
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