Change to the 2014 Specific Instructions for Form 1099-C, Box 2. Amount of Debt Discharged -- 07-NOV-13
If you downloaded the 2014 Specific Instructions for Form 1099-C, box 2, before November 8, 2013, please note the following correction.
On page 6, under Box 2. Amount of Debt Discharged, the instructions are corrected to state:
"The amount of the canceled debt cannot be greater than the total debt less any amount the lender receives in satisfaction of the debt by means of a settlement agreement, foreclosure sale, a short sale that partially satisfied the debt, etc."
The Corrected version of the 2014 Specific Instructions for Forms 1099-A and 1099-C is available for download.