Form 982

SCORP2 — Mon, 10 Feb 2025 14:25:16 GMT

At the bottom of the form it states:

"Note: You must attach a description of the transactions resulting in the nonrecognition of gain under section 1081"

I am using reason 1d, exclusion of a forgiveness of debt on a business property.

Do I list the information from the 1099-C and what property I reduced the basis, and how much, or what exactly are they asking for and how could it look like? I haven't seen any examples.

Re: Form 982

JohnW152 — Mon, 10 Feb 2025 15:18:35 GMT

You are exactly right. Just provide a reasonable description, and you'll be fine.

topic Re: Form 982 in Get your taxes done using TurboTax

Form 982

Re: Form 982