How To Deal With Tax Preparation: Difference between revisions
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Revision as of 10:23, 9 October 2026
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Just like your employer is important to send a W-2 to you every year, a lender is required to send 1099 forms to every borrowers which debt forgiven. That said, just because lenders needed to send 1099s does not mean that you personally automatically will get hit along with a huge goverment tax bill. Why? In most cases, the borrower is often a corporate entity, cibai and you are just an individual guarantor. I know that some lenders only send 1099s to the borrower.
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