The TaxAct^® program supports the entry of up to ten (10) Forms 1099-C Cancellation of Debt. If you have more than ten to enter, you will need to group your forms according to the nature of the canceled debt. Once the forms are grouped, you can enter the combined amounts on one or more Forms 1099-C. When grouping the forms, you will need to consider the following:

1. You must group the forms according to Box 5 checkbox:
   a. If the box is checked, group together all forms with this box checked and then review (2) below.
   b. If not checked, you will need to group the forms based on whether the debt was related to a loan modification.
2. You must group the forms based on whether the debt was personal or non-personal
   a. If personal, you will need to group the forms based on whether or not the debt was qualified principal residence indebtedness.
   b. If not personal, you will need to group the forms based on what type of property the debt was related to: business, rental, investment, etc.

For example, if all of the forms have the checkbox in Box 5 checked and are for personal property that is not principal residence debt (e.g., credit cards, vehicles, etc.), you can combine all the forms and enter the total on ONE Form 1099-C in the TaxAct program.

To report your Form 1099-C in the TaxAct program, go to our Form 1099-C - Entering Cancellation of Debt in Program FAQ.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.