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Just like your employer ought to be required to send a W-2 to you every year, a lender is were required to send 1099 forms each borrowers who've debt forgiven. That said, just because lenders are anticipated to send 1099s doesn't imply that you personally automatically will get hit having a huge tax bill. Why? In most cases, the borrower is often a corporate entity, and are generally just a personal guarantor.

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