VOID CORRECTED

CREDITOR’S name, street address, city, state, and ZIP code OMB No. 1545-1424

Cancellation

of Debt

CREDITOR’S Federal identification number DEBTOR’S identification number 1 Date canceled 2 Amount of debt canceled

$

3 Interest if included in box 2

5

DEBTOR’S name

Street address (including apt. no.) Debt description

City, state, and ZIP code

Account number (optional)

Form 1099-C Department of the Treasury - Internal Revenue Service

8585

Copy A

For Privacy Act and

Paperwork

Reduction Act

Notice, see the

2000 General

Instructions for

Forms 1099, 1098,

5498, and W-2G.

File with Form 1096.

Cat. No. 26280W

For

Internal Revenue

Service Center

6

$

4

Form 1099-C

Check for bankruptcy 7 Fair market value of property

$

Do NOT Cut or Separate Forms on This Page — Do NOT Cut or Separate Forms on This Page

2000

CORRECTED (if checked)

CREDITOR’S name, street address, city, state, and ZIP code OMB No. 1545-1424

Cancellation

of Debt

CREDITOR’S Federal identification number DEBTOR’S identification number 1 Date canceled 2 Amount of debt canceled

$

3 Interest if included in box 2

5

DEBTOR’S name

Street address (including apt. no.) Debt description

City, state, and ZIP code

Account number (optional)

Form 1099-C Department of the Treasury - Internal Revenue Service

Copy B

For Debtor

This is important tax

information and is being

furnished to the Internal

Revenue Service. If you

are required to file a

return, a negligence

penalty or other

sanction may be

imposed on you if

taxable income results

from this transaction

and the IRS determines

that it has not been

reported.

(Keep for your records.)

4

$

Form 1099-C

6 7 Bankruptcy (if checked) Fair market value of property

$

2000
Instructions for Debtor

If a Federal Government agency, financial institution, or credit

union cancels or forgives a debt you owe of $600 or more,

this form must be provided to you. Generally, if you are an

individual, you must include the canceled amount on the

“Other income” line of Form 1040. If you are a corporation,

partnership, or other entity, report the canceled debt on your

tax return. See the instructions for your tax return.

However, some canceled debts, such as certain student

loans (see Pub. 525), certain debts reduced by the seller

after purchase (see Pub. 334), qualified farm debt (see

Pub. 225), qualified real property business debt (see

Pub. 334), or debts canceled in bankruptcy (see Pub. 908),

are not includible in your income. Do not report a canceled

debt as income if you did not deduct it but would have been

able to do so on your tax return if you had paid it. Also, do

not include canceled debts in your income to the extent you

were insolvent. If you exclude a canceled debt from your

income because it was canceled in a bankruptcy case or

during insolvency, or because the debt is qualified farm debt

or qualified real property business debt, file Form 982,

Reduction of Tax Attributes Due to Discharge of

Indebtedness (and Section 1082 Basis Adjustment).

Box 1. Shows the date the debt was canceled.

Box 2. Shows the amount of debt canceled.

Box 6. If the box is marked, the creditor has indicated the

debt was canceled in a bankruptcy proceeding.

Box 5. Shows a description of the debt. If box 7 is

completed, also shows a description of the property.

Box 3. Shows interest if included in the canceled debt in box

2. See Pub. 525, Taxable and Nontaxable Income.

Box 7. If, in the same calendar year, a foreclosure or

abandonment of property occurred in connection with the

cancellation of the debt, the fair market value of the property

will be shown, or you will receive a separate Form 1099-A,

Acquisition or Abandonment of Secured Property. You may

have income or loss because of the acquisition or

abandonment. See Pub. 544, Sales and Other Dispositions

of Assets, for information about foreclosures and

abandonments.
VOID CORRECTED

CREDITOR’S name, street address, city, state, and ZIP code OMB No. 1545-1424

Cancellation

of Debt

CREDITOR’S Federal identification number DEBTOR’S identification number 1 Date canceled 2 Amount of debt canceled

$

3 Interest if included in box 2

5

DEBTOR’S name

Street address (including apt. no.) Debt description

City, state, and ZIP code

Account number (optional)

Form 1099-C Department of the Treasury - Internal Revenue Service

Copy C

For Creditor

For Privacy Act and

Paperwork

Reduction Act

Notice, see the

2000 General

Instructions for

Forms 1099, 1098,

5498, and W-2G.

$

4

Form 1099-C

6 7 Check for bankruptcy Fair market value of property

$

2000
Creditors, Please Note—

To help make it easier for you to get only the information you

need to complete the Forms 1099, 1098, 5498, and W-2G

you file, we are now providing general and specific form

instructions as separate products. The new products you

should use for 2000 are the General Instructions for Forms

1099, 1098, 5498, and W-2G, which contains general

information concerning Form 1099-C and other forms in the

1099 series, and the separate specific instructions for each

information return you file. Specific information needed to

complete this form is given in the 2000 Instructions for

Forms 1099-A and 1099-C. A chart in the general

instructions gives a quick guide to which form must be filed

to report a particular payment. You can order those

instructions and additional forms by calling 1-800-TAX-FORM

(1-800-829-3676). You can also get forms and instructions

from the IRS’s Internet Web Site at www.irs.gov.

Due dates. Furnish Copy B of this form to the debtor by

January 31, 2001.

File Copy A of this form with the IRS by February 28,

2001. If you file electronically, the due date is April 2, 2001.

Caution: Because the IRS processes paper forms by

machine (optical character recognition equipment), you

cannot file with the IRS Forms 1096, 1098, 1099, or 5498

that you print from the IRS’s Internet Web Site.