Legal Question in Bankruptcy in Georgia

1099-c

filed ch 13 & 7 2003 discharged 2005. we returned a bobcat we purchased in our business name. just recieved 1099-C $1250.00.

says debt was discharged on 7/31/07. do i have to pay taxes on this. we have not been in business sinse 2002. we are self employed


Asked on 2/06/08, 11:14 am

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: 1099-c

Your post is far from clear enough to provide a response. What do you mean "filed ch 13 & 7?" Two cases, or one converted case? Who got the 1099 - you personally or the business? Is the business a corporation, LLC, or other? Was the debt listed on the scedules of whatever case(s) were filed? You may want to edit or re-post.

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Answered on 2/06/08, 11:22 am


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