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Geneva 2000: No breakthrough on cancellation of debt and adoption of 17 April 2000. Geneva 2000: No breakthrough on cancellation of debt and adoption of a currency transfer tax Publication 225: Farmer's Tax Guide; Cancellation of Debt 225: Farmer's Tax Guide; Cancellation of Debt wfn.org | Geneva 2000: No breakthrough on cancellation of debt and Geneva 2000: No breakthrough on cancellation of debt and adoption of a currency transfer tax If I receive a 1099C (cancellation of Debt) form from the credit receive a 1099C (cancellation of Debt) form from the credit card company and I include this on my income tax as other income and pay the tax Publication 225, Farmer's Tax Guide; Chapter 4 - Farm Income, Any minimum tax credit available at the beginning of the tax year following the tax year of the debt cancellation, multiplied by 3. Cancellation of Debt Any minimum tax credit available at the beginning of the tax year following the tax year of the debt cancellation, multiplied by 3. 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