     Don Semler (Dsemler) | Wednesday, August 16, 2000 - 04:49 pm 
When a creditor issues a 1099-c for forgiven debt, no they do not benefit. They person that benefits is the person whos debts was forgiven. If you owed $5,000 and they settled for $1000, you benefited because you had use of the other $4,000. At least that how the IRS sees it. |
