I had a Chapter 7 discharged in 2018 and received a 1099c. Online version said to download TT Deluxe and I did that. I entered the 1099C as income and found the form 982 and think I chose the check box 1a for "title 11" and it still shows as income. What do I need to do to get this excluded from income?
You enter the 1099C and you should go through some questions after that to see if you can exclude any of it, Bankruptcy should be one of the choices.
I thought it would do something like that. However, I did not see that option. It says that it may be excluded in some situations (BK/Insolvent) but there are no options and when choose continue after entering amount it just tells you that it is taxable. Not sure where to go from there.
Oh, if you're using the desktop version, switch to View > Forms see if you can find the Canceled Debt worksheet....the Bankruptcy box to check is in there.
Thank You! It should have been easier to find but you are awesome!