2. Where Do I Enter Data?
eFile will guide you through entering all types of income. You will come across adding the information from your 1099-C as you work through the Federal Taxes section and the proper forms will be generated for you.
3. How to Manually Add Data
To manually add your form, navigate to Federal Taxes > Review > I'd like to see the forms I've filled out or search for a form and enter "1099-C" to add the information from your cancelled debt form. In most cases, this cancelled debt should be counted towards your individual income. Select 1040 - Individual Return from the flow dropdown to include this with your individual income.
4. Box Descriptions
There are many boxes on the form and you will want to enter boxes 1-7 into eFile:
1: Date of identifiable event
2: Amount of debt discharged
3: Interest, if included in box 2
4: Debt description
5: Checkbox for if the debtor was personally liable for repayment of the debt
6: Event code
7: Fair market value of property.
5. How to Add, Delete a Form or Page