Can a Co Signer Receive a Form 1099-C?
Fortunately, however, the Internal Revenue Service takes a logical view of forgiven debt for co-signers. Treasury Regulation Sec. 1.6050P-1 (7) says that for purposes of filing, “a guarantor is not a debtor.” It differentiates between those who get the benefit of a loan and those who guarantee its repayment.
