Considering filing for Chapter 7 Liquidation Bankruptucy?
- olivieritax
- Oct 12, 2021
- 1 min read
You will receive 1099-C Cancellation of Debt forms for surrendered income. Your surrendered income will be taxed as ordinary income.
If you can prove that your liabilities are greater then your assets, you will not have to pay any taxes on your surrendered income.
Contact me for more information.
Comments