Solved: If we were insolvent, do we enter the 1099-C forms in the income section or just complete and attach form 982?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

If we were insolvent, do we enter the 1099-C forms in the income section or just complete and attach form 982?

 
1 Best answer

Accepted Solutions
Level 15

If we were insolvent, do we enter the 1099-C forms in the income section or just complete and attach form 982?

You will do both.  Show the 1099C's on the return and then if insolvent the 982 will exclude them from income. 

View solution in original post

1 Reply
Level 15

If we were insolvent, do we enter the 1099-C forms in the income section or just complete and attach form 982?

You will do both.  Show the 1099C's on the return and then if insolvent the 982 will exclude them from income. 

View solution in original post

Dynamic Ads
v
Privacy Settings