Cancelled Debt Considered Income??

[Debster222]

I filed pro-se last year and was discharged end of October... YAY...., but today I got a 1099-C from one of my creditors and some instructions telling me that the discharged debt may be considered income and therefore taxable. SAY WHAT???

So, I Googled and I think I read that if the debt was canceled through bankruptcy, then it's excluded.

Just thought someone here might clarify this for me??

[TEW]

http://www.bkforum.com/showthread.php?t=33567
take a look at this thread

[Debster222]

http://www.bkforum.com/showthread.php?t=33567
take a look at this thread

Thank you! That pretty much answers my question. I'm ok and don't need to worry about this.

[TEW]

Thank you! That pretty much answers my question. I'm ok and don't need to worry about this.

some busniss debt is taxable from what I understand not consumer debt