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Revision as of 06:28, 15 September 2026
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Just like your employer it will take to send a W-2 to you every year, a lender is required to send 1099 forms to all or any borrowers which debt understood. That said, just because lenders needed to send 1099s doesn't suggest that you personally automatically will get hit along with a huge government tax bill. Why? In most cases, the borrower is often a corporate entity, and you are just a personal guarantor. I am aware that some lenders only send 1099s to the borrower.
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