How does Social Security treat a 1099-C (forgiven Credit Card debt) for a recipient of a Supplemental Security Income benefit? The same as a 1099 for interest?
How does Social Security treat a 1099-C (forgiven Credit Card debt) for a recipient of a Supplemental Security Income benefit? The same as a 1099 for interest?
The income report you describe would be treated as taxable by the IRS - I can't comment on that without knowing the amount - but it should not be treated as income by the SSA. It's obviously different from earned income, but it's also different from the type of income you earn off of investments as you're not actually getting money in your pocket. Make sure you keep documentation in case of confusion.