Comments on: Do I claim as taxable income =back lump ssi payment or forgiveness on student loan? http://businessbankruptcylaws.org/do-i-claim-as-taxable-income-back-lump-ssi-payment-or-forgiveness-on-student-loan/ Help For Small Business Owners Considering Bankruptcy Sun, 15 Jan 2012 00:01:18 -0600 http://wordpress.org/?v=2.8.3 hourly 1 By: Mathew http://businessbankruptcylaws.org/do-i-claim-as-taxable-income-back-lump-ssi-payment-or-forgiveness-on-student-loan/comment-page-1/#comment-3141 Mathew Mon, 22 Mar 2010 12:09:00 +0000 http://businessbankruptcylaws.org/do-i-claim-as-taxable-income-back-lump-ssi-payment-or-forgiveness-on-student-loan/#comment-3141 First of all to answer this question one must know your filing status. You have indicated that you have a husband with income. If you are going to file together (MFJ) the 1099-C you should have received for the canceled debt would be included in that return. If not you will still need to file a return to deal with the form 1099-C. How to go about that depends on a great deal if information that we do not have nor should you disclose it in this forum. The SSI is not taxable income and would have no impact regardless of what you do about the other circumstances. You really do need to deal with the 1099-C for the canceled debt or that will become taxable income to you. First of all to answer this question one must know your filing status. You have indicated that you have a husband with income. If you are going to file together (MFJ) the 1099-C you should have received for the canceled debt would be included in that return. If not you will still need to file a return to deal with the form 1099-C. How to go about that depends on a great deal if information that we do not have nor should you disclose it in this forum. The SSI is not taxable income and would have no impact regardless of what you do about the other circumstances. You really do need to deal with the 1099-C for the canceled debt or that will become taxable income to you.

]]> By: Bostonian In MO http://businessbankruptcylaws.org/do-i-claim-as-taxable-income-back-lump-ssi-payment-or-forgiveness-on-student-loan/comment-page-1/#comment-3142 Bostonian In MO Mon, 22 Mar 2010 12:09:00 +0000 http://businessbankruptcylaws.org/do-i-claim-as-taxable-income-back-lump-ssi-payment-or-forgiveness-on-student-loan/#comment-3142 SSI is not taxable and is never reported on your tax return. SSI is not taxable and is never reported on your tax return.

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