1099

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

Written by Steve Rhode

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.

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Steve Rhode

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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