Form 982 in 2024 TurboTax Home & Business - desktop

[ktobehowell]

I can enter the 1099-C data, but it does offer the exemption options, nor does it provide a path to Form 982.  How can I get there?   

[MaryK4]

You will have to enter the information in FORMS:

1. Select the Forms icon or select it from the View menu.
2. On the left pane and open Canceled Debt (X) (X is your 1099-C creditor).
3. Scroll down until you reach the part that pertains to your situation (Parts III through XI). There are nine parts but you only need to fill out the one that applies to you.
4. If you're filling out Part VIII (Exclusion for Insolvency) you must also select the QuickZoom button so you can fill out the Statement of Insolvency.
5. Go to the Form 982 in the left pane
6. Complete Part II (Reduction of Tax Attributes) on Form 982.