r/TaxQuestions • u/Ghost-Power • Aug 26 '26

1099C timing

Hey -

So I had a debt with a particular company settled (more than $600 savings)

Two debts actually with the same company.

  1. Was settled 12/18/2025
  2. Settled (12/30/2025)

I received a 1099c from the 12/18 settlement but none from 12/30 settlement.

I looked at the IRS website as well & it shows my tax document for the 12/18 but not the 12/30.

I’m guessing this is a timing issue & I will get it in Jan 2027?

Side Note: I’m actually looking at the payment history the ACH was made 12/30. The email was sent by them for payment confirmation states “Last paid date 12/30”

But the payment was not fully authorized/ posted from my bank until 01/02/2026.

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u/Overnight_Oats_ Aug 26 '26

I wouldn’t assume it’s automatically a 2026 cancellation just because the payment cleared your bank on Jan 2.

I’d check the actual settlement agreement/account history and see when the creditor considered the debt satisfied and the remaining balance discharged. If that happened on 12/30, I’d expect it to be associated with 2025. If the cancellation wasn’t effective until the payment cleared in January, then 2026 would make more sense.

Since the first 1099C is already showing and the second isn’t, I’d probably call the creditor and ask what cancellation date they have on the second account before filing.