Hello
I received a cancellation of debt for 1099-C.

The original debt is from 2009, and I settled with a debt collector on January 27, 2011 -- I still have the paperwork from the creditor as well as my bank statements showing I paid them, thank goodness.

First - the original creditor sent a 1099-c for the full amount of the debt, not the amount less than what I paid when I settled. Is that the correct way to report the income? Shouldn't it come from the debt collector? And I would think only the net amount should be reported as income?

Second, shouldn't they have sent me the 1099-C in 2011 when I settled with the debt collector? I would prefer to go back and amend my 2011 year tax filing than pay it from this year's tax filing.

Wondering if I should contact the IRS about filing a form 4598 - ‘Form W-2, 1098, or 1099 Not Received, Incorrect or Lost" and fight this?