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Completing IRS Form Form 982, Reduction of Tax Attributes Due to Discharge of Debt

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  • 03-08-2015, 11:55 AM
    weimer1
    Completing IRS Form Form 982, Reduction of Tax Attributes Due to Discharge of Debt
    I have a cancellation of debt for 2013 and 2014 tax years. I did not declare insolvency last year but want to amend my 2013 return and declare for 2014. I did not declare bankruptcy nor foreclose on my house. This is just for credit card debt in which part of the amount owed was reduced by the credit card company. How do I fill out Form 982 and any of the related sections or worksheets?
  • 03-09-2015, 01:08 AM
    llworking
    Re: Completing IRS Form Form 982, Reduction of Tax Attributes Due to Discharge of Deb
    Quote:

    Quoting weimer1
    View Post
    I have a cancellation of debt for 2013 and 2014 tax years. I did not declare insolvency last year but want to amend my 2013 return and declare for 2014. I did not declare bankruptcy nor foreclose on my house. This is just for credit card debt in which part of the amount owed was reduced by the credit card company. How do I fill out Form 982 and any of the related sections or worksheets?

    This just isn't the kind of thing that someone can walk you through over the internet. You need to thoroughly read the instructions for form 982. If you still cannot figure out how to do it, then you need the assistance of a tax professional.
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