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Versione delle 19:43, 17 ago 2026


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I've had clients ask me to attempt to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) is actually able to do such a thing. Just like your employer is usually recommended to send a W-2 to you every year, a lender is instructed to send 1099 forms to any or all borrowers who have debt pardoned. That said, just because lenders are anticipated to send 1099s does not that you personally automatically will get hit having a huge tax bill. Why? In most cases, the borrower is really a corporate entity, and you just a personal guarantor. I understand that some lenders only send 1099s to the borrower. The impact of the 1099 on your personal situation will vary depending precisely what kind of entity the borrower is (C-Corp, S-Corp, LLC, etc). Most CPAs will be capable of to explain how a 1099 would manifest itself.

Copyright 2010 by RioneX IP Group LLC. All rights shy. This material may be freely copied and distributed subject to inclusion in the copyright notice, author information and all the hyperlinks are kept unchanged.

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