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Under these circumstances and in order to file the Form 982, we generally recommend using the CD/Download version of Turbo Tax Deluxe or a higher edition. If you have not paid anything yet, you can easily cancel and change to the desktop version for your return.
Form 982 (Reduction of Tax Attributes Due to Discharge of Indebtedness) reports the amount of cancelled debt to excluded from taxable income. We'll automatically generate Form 982 if your cancelled debt is due to:
In addition, you should have a 1099-C to report the amount of cancelled debt.
In order to the switch from online to CD/download. please see the following link: https://ttlc.intuit.com/questions/1901476-how-do-i-switch-from-turbotax-online-to-the-turbotax-softw...
Once you have done the above you can access the forms mode of your desktop program using these steps:
To switch to Forms Mode, open your return, and then click the Forms icon in the upper right corner of your screen (or choose Forms from the View menu at top).
The Federal Information Worksheet will display and all the forms in your return will be listed on the left side. Then click on Open Form and type in the search box : Form 982.
To make sure its excluded within your return, you will need to fill out the following forms:
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