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Level 2
October 15, 2023
Question

1099-C and Form 982

  • October 15, 2023
  • 2 replies
  • 14 views

Hi. Using TT Premier (Download). Entered 1099-C canceled debt data. Then I used Forms tab to generate Form 982. I entered the same amount from the 1099-C in Box 2 on Form 982 (discharged debt excluded from gross income). TT is not adjusting my total amount of Other Income to reflect this exclusion. Help!

    2 replies

    Level 15
    October 15, 2023
    afrugal1Author
    Level 2
    October 15, 2023

    Thank you for the link.  I carefully followed those instructions without success.  I will delete the 1099-C data and try to start over.