AIRSLATE

Hey everyone thanks for listening to the video my name is Bob Babinski and I see it's, and we work with taxpayers with tax issues including tax preparation and planning for both businesses and individuals, and we help taxpayers our specialty is helping taxpayers who have IRS problems we're located in Richardson Texas which is right outside of Dallas Fort Worth, but we help taxpayers throughout the nation with IRS issues this is the third in a series of videos that's on cancelled debt forgiveness, and today we're going to cover the insolvency exclusion so just an overview of everything. If you had a loan if somebody lent you money or business lent you money such as a bank or a mortgage company and that debt was forgiven it becomes income to you the borrower for the full amount the lender is typically going to send you a form 1099 C, and you're going to report it on your form 1040 under other income. There are some situations where that doesn't have that's not completely true one of them..

Also known as: airSlate Inc, insolvency worksheet