<tomchand[at]gwi.net> wrote:

- quote -

Something is missing. If the decedent wasn't insolvent the loans should
have been paid from the estate. If the estate paid them there shouldn't
have been a 1099-C. Can you fill in the blanks?

--
Phil Marti
Clarksburg, MD

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Taxpayer dies in January 2007. Heirs just received 1099C (debt
forgiveness) for balance on student loans (about $15,000) . Not in
bankruptcy and I don't believe she was insolvent.

Has anyone run into this - how did you handle?

Should properly be shown as income of individual or estate?

Tips, tricks or pitfalls?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >