Step-by-Step:
📂 Federal Section:
Start by clicking "Federal Section" from the main menu.
💼 Other Income:
Click "BEGIN" next to "Other Income" to access income types.
🧾 Select 1099-C:
Find "1099-C" in the list and click "BEGIN".
❌ Cancellation of Debt:
Under 1099-C, click "BEGIN" next to "Cancellation of Debt".
🏦 Enter Creditor Info:
Input the creditor’s name and federal EIN exactly as shown on the form.
💰 Debt Amount:
Enter the amount of canceled debt from the 1099-C, then click "Continue".
✅ Confirm & Continue:
Review the details for accuracy and click "Continue" to finish.