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  1. File Form 982 with your federal income tax return for a year a discharge of indebtedness is excluded from your income under section 108 (a).

  2. Form 982 (Rev. March 2018) Department of the Treasury Internal Revenue Service . Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)

  3. Instructions for Form 982 (Rev. January 2020)

    www.irs.gov › pub › irs-pdf

    Any other debt Use Part I of Form 982 to indicate why any amount received from the discharge of indebtedness should be excluded from gross income and the amount excluded. Use Part II to report your reduction of tax attributes.

  4. About Form 982, Reduction of Tax Attributes Due to Discharge ...

    www.irs.gov › forms-pubs › about-form-982

    About Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) Form 982 is used to determine, under certain circumstances described in section 108, the amount of discharged indebtedness that can be excluded from gross income.

  5. Form 1099-C - Cancellation of Debt / Form 982 - Reduction of ...

    support.taxslayerpro.com › hc › en-us

    Form 982 - Reduction of Tax Attributes To indicate that canceled debt being passed through on Form K-1 (Form 1065) is being excluded pursuant to IRC section 108 (1), from the Main Menu of the tax return (Form 1040) select:

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  7. Form 1099-C - Cancellation of Debt / Form 982 - Reduction of ...

    support.taxslayerpro.com › hc › en-us

    Form 982 - Reduction of Tax Attributes When an individual has a debt that has been discharged, the amount that was discharged is generally treated as taxable income to the individual. Under certain circumstances, this amount can be excluded from income, and therefore not taxed.

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