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Form 982 is on the eligible for e-file list. Check all the details below before you begin to see if it will help you to file the form. It's only necessary if you are eligible for tax free treatment.
You can file Form 982 to report this cancellation of debt to the IRS. However, you may need to use the CD/Download software to file this form because the entries will need to be put in manually while in Forms mode. Forms mode is only available in the CD/Download version of Turbo Tax.
The Mortgage Relief Act is available for your main home, only your principal residence.
You may be eligible to use the Form 982 if you filed bankruptcy and this debt was included in that bankruptcy or you were/are insolvent.
We advise a tax professional or review IRS publications noted in the attachment (4681 or 544). What is Form 982?
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