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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.

Page Last Reviewed or Updated: 12-Nov-2013