I have a quick question regarding a 1099-c. I have reached an agreement to settle a card at apx 32 percent of what was owed. The plan to pay is for 12 months.
Will I be issued a 1099-c on the initial charge off amount or will I be issued a 1099-c based on the final amount after my account settlement is done.
I trying to figure out not only if these settlement payments reduce my upcoming taxes and also if the form will come this year or next year post settlement
Thank you so much
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