MargaretL
Expert Alumni

After you file

No - there is no specific form for you to complete to indicate your bankruptcy.  And in general, bankruptcy will not have an impact on your income tax return; any debts that are discharged in bankruptcy are excluded from income. And if you are on a payment plan, you can still deduct your "applicable" deductions.

IF you ever receive a form 1099-C from one of the creditors for which debt will be discharged, it may be next year or in a couple of years... it will indicate a bankruptcy discharged debt.  Please be sure to report the form 1099-C and file form 982, which shows the debt was relieved in bankruptcy (it is recommended to use the Cd/Download product of Turbo Tax if that's the case or to contact one of your local tax professional to help you with the Form 982).

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