After you file

Thank you so much,  but I am looking at Form 982 Part II and none of those situation applies.  The debt was incurred by charging ordinary expense items on the Schedule C for the LLC that was operating in prior years. So does this mean that because I cannot fill out any of the lines on Part II that it will be taxable?

 

Thank you for your help.  This is alot of money and I don't want to pay tax on it.