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Latest revision as of 00:11, 9 October 2026
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Just like your employer is important to send a W-2 to you every year, a lender is vital to send 1099 forms to all borrowers who have debt pardoned. That said, just because lenders are anticipated to send 1099s does not that you personally automatically will get hit with a huge tax bill. Why? In most cases, the borrower is often a corporate entity, and you are just an individual guarantor. I am aware that some lenders only send 1099s to the borrower.
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