Received form 1099-C due to Chapter 7 bankruptcy after filing my taxes

[Daethoron]

I received the form 1099-C after I had already filed my taxes and sent in through TurboTax online. I've researched what I'm supposed to do, like filling out form 982, but I do not know how to go about filling that form out. My question is is there any way I can use TurboTax to amend my taxes to include the forms 1099-C and 982 and does it explain to you know to fill them out and are they able to be filed electronically?

[ThomasM125]

You can prepare the form 982 in the desktop version of TurboTax, but not while using the online version of the program. If you paid for your online TurboTax product, we may be able to send you a free download program if you contact us and request that.

The form 982 in TurboTax has a cancelled debt worksheet you can access via a "QuickZoom" option on the top of the form. In the worksheet, there are various sections you can complete depending on why you are claiming exemption from taxation on the cancelled debt. The worksheet is somewhat user friendly, but it is not presented in a question and answer format.

To access the form 982, you have to use the "Forms" option and search for the form 982 by name.

Unfortunately, most support agents are not trained on how to complete the form, so if you call for support it may not be available for you. I happen to know about the form because I was trained on it several years ago, but that training has not been provided for several years now.

You can prepare your amended return and enter your form 1099-C and have the form 982 attached to it in the desktop version of TurboTax, but you will have to mail the return in, as you cannot e-file an amended return.

[publicpower02]

I received a form 1099 c after I did my taxes online what should I do

[JamesG1]

If your return has been transmitted and rejected by the IRS, you can correct your tax return and re-transmit.

If your return has been transmitted and accepted by the IRS, you will have to amend your Federal 1040 tax return.  However, before amending your tax return, do not enter the return and do not enter the return and make any changes.

Amended tax returns will not be available before February 23. See forms availability here.

If you used TurboTax Online, simply log in to your account and select Amend a return that was filed and accepted.

If you used the CD/download product, sign back into your return and select Amend a filed return. 

You must file a separate Form 1040-X for each tax return you are amending.

To enter your 1099-C, see here or follow these steps:

1. Open or continue your return
2. Search for 1099-C or 1099C (lowercase also works)
3. Select the Jump to link at the top of the search results
4. On the Tell us about your canceled debt screen, select the type of canceled debt (main home or other) and then select Continue
5. Go through the screens to answer any follow-up questions about your canceled debt
6. Follow the instructions to enter info from your 1099-C

See also this TurboTax Help.

@publicpower02