Level 2

Discover 1099-Misc

Forum|Forum|1 year ago
March 2, 2025
2 replies
8 views

Has anyone received a 1099-Misc for a client from Discover Bank? Is this for exiting the Student Loan servicing and is some taxable refund? Clients have no idea. We have come across several of them now. Thank you.

sjrcpa

Level 15

Other people got a different form

https://accountants.intuit.com/community/proseries-tax-discussions/discussion/1099-c/00/321340

I think the poster meant 1098-C

The more I know the more I don’t know.

J

jcomunaleAuthor

Level 2

Thank you. These are 1099-Misc's which is baffling. They got the 1098-E for the interest. It is not a 1099-C Cancellation of Debt, it's marked Other Income.

M

msack3889

Level 2

My daughter received both a 1098-E and a 1099-Misc from Discover Bank as well, and I don't know how to report them on her return.

dkh

Level 15

I had a client that received both 1099-MISC and 1098-E from Discover. Client did not know why the 1099-MISC was issued either. The back of both documents has limited $$ breakdown of the total but no explanation.

I offered to hold return until client could determine what the 1099-MISC was for......they declined. The amount made an insignificant change to the returns.

IRonMaN

Level 15

@dkh - hopefully Bob doesn't see your post. 😜

Slava Ukraini!

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