ThomasM125
Expert Alumni

Get your taxes done using TurboTax

I suggest you enter it in TurboTax on form 982, "Reduction of tax attributes due to discharge of indebtedness." You will find it in the desktop version of TurboTax, by clicking on "Forms" and then querying form 982.

 

There is a "cancelled debt worksheet" on the form you can complete to determine if you can exclude the cancelled debt from taxation.

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