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Form 1099-Misc is a tax form that reports the year-end summary of all non-employee compensation.
I received a 1099-C for a debt my ex was supposed to pay. The IRS generally expects creditors to file 1099-Cs for joint debts. Whether or not you are required to pay taxes on that amount depends on who actually receives a Form 1099-C showing the full amount of debt.If you and another person were jointly and severally liable for a debt that is canceled, each of you may get a Form 1099-C showing the entire amount of the canceled debt.f the total amount by which you are insolvent is larger than the amount listed on the 1099-C, you can exclude the entire amount listed on the 1099-C from your income. Youâll have to file Form 982 with your tax return to claim this exclusion.