My Ex-Husband and I Both Got 1099-C Forms for Private Student Loan Debt

Question:

Dear Steve,

I just received a 1099-c for a private student loan from chase bank. My ex-husband also received a 1099-c for the same amount since he co-signed the loan. The student loan was for me and he didn’t use any of the loan for himself.

Does he have to file this 1099-c with the IRS if I file it on my tax return for the complete amount and claim insolvency? Would the IRS penalize him for not filing the 1099-c if I’m filing? Should I send a statement with my filing to state that he had no benefit from my personal student loan?

Lisa

Answer:

Dear Lisa,

See this previous post.

As always, when it comes to tax issues, consulting with a licensed tax professional or tax adviser is always a smart thing to do.

Steve Rhode Debt Coach and Author

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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