The easiest way to find/file form 982 in TurboTax Online is to go to:
- Sign into TurboTax Online and click "Take me to my return." (if not already open.)
- Once you are in your return on the left-hand side of the TurboTax Online screen click on TAX TOOLS and then TOOLS.
- In the Tools window, choose TOPIC SEARCH.
- Enter Form 982 without quotes.
- In the list select Form 982 and click GO.
- Now you will see "Tell us about your canceled debt."
For additional information on Form 982, Reduction of Tax Attributes:
Form 982 (Reduction of Tax Attributes Due to Discharge of Indebtedness) reports the amount of cancelled debt to excluded from taxable income.
We'll automatically generate Form 982 if your canceled debt is for a qualified principal residence indebtedness, aka mortgage debt relief.
Search for 982 in your TurboTax program and then click the "Jump to" link to access the cancellation of debt section. You should have a 1099-C to report the amount of canceled debt. (You'll need to use TurboTax Deluxe or higher to file Form 982.)
If your canceled debt isn’t directly related to the purchase of the main home, the IRS has strict guidelines for determining how to report it. There are several options specific to each taxpayer’s situation. To determine which apply to you, we recommend you consult a tax professional or see IRS Publication 4681 or Publication 544.
