Legal Question in Consumer Law in Washington
I have a box store charge account. Last year they called and said they would forgive part of the bill. I agreed and now I have received a 1099 stating that I receive the 'forgiven' debt amount as income. Is this correct?
Asked on 1/16/13, 1:46 pm
1 Answer from Attorneys
Christopher Steuart
IT Forensics, Inc.
That is what I would expect for any debt forgiveness in excess of $599.
Answered on 1/16/13, 7:51 pm
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