1099-C - Data Requirements

See below for all of the required data elements for completing Form 1099-C reporting.

Filing Entity

The legal entity responsible for the issuing forms will be the filing entity. The information listed below must be submitted through the Taxbit Dashboard.

For more information on Filer setup, please refer to this guide: Filer Setup

Field Name	Required
Name	Required
Address	Required
Tax Residency	Required
US TIN	Required
Contact Phone Number	Required

Please note: If there are multiple filers, please ensure that you are using the correct filer ID for the associated account(s).

Account Owner / Account

For ingestion purposes, the only data point required to create/update an Account Owner is the Account ID. This allows you to add all of your users to the Dashboard, even while you may still be collecting additional information. There will be reports available in the Dashboard to let you know if something is missing for an Account that is eligible for a tax form.

The following table, however, summarizes the required fields needed to complete the Form 1099-C.

For more information on formatting the Account Owner/Account CSV templates, please refer to this guide: Standard Account Owner/Account - CSV Ingestion Template Guide

Field Name	Required
Account Owner ID	Only required if you have Account Owners with multiple Accounts
Account ID	Required
Name	Required
Joint Account Name	If Applicable
Address	Required
Tax Residency	Presumed US if unavailable
TIN	Required
Filer ID	Only required if you have multiple Filers

Note that there are other fields on the Account Owner / Account model that are not listed here, as they are not required for 1099-C reporting.

Form Data

The following data points must be provided for Form Data ingestion. Note that there should typically be a single row for each Account, per identifiable event, in the template.

For more information on formatting the 1099-C Form Data CSV template, please refer to this guide: 1099-C - Form Data CSV Ingestion Template Guide

Field Name	Required
Date of identifiable event (Box 1)	Required
Amount of debt discharged (Box 2)	Required
Interest, if included in box 2 (Box 3)	If Applicable
Debt description (Box 4)	Required
Check here if the debtor was personally liable for repayment of the debt (Box 5)	If Applicable
Identifiable event code (Box 6)	Required
Fair market value of property (Box 7)	If Applicable