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tkeela2
New Member

Should I include 1099C in my income if I had Chapter 7 Bankruptcy discharged in 2018?

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?

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Should I include 1099C in my income if I had Chapter 7 Bankruptcy discharged in 2018?

solved in comments

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

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6 Replies

Should I include 1099C in my income if I had Chapter 7 Bankruptcy discharged in 2018?

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.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
tkeela2
New Member

Should I include 1099C in my income if I had Chapter 7 Bankruptcy discharged in 2018?

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.

Should I include 1099C in my income if I had Chapter 7 Bankruptcy discharged in 2018?

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.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
tkeela2
New Member

Should I include 1099C in my income if I had Chapter 7 Bankruptcy discharged in 2018?

Thank You! It should have been easier to find but you are awesome!

Should I include 1099C in my income if I had Chapter 7 Bankruptcy discharged in 2018?

Great!  Glad you found it!
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

Should I include 1099C in my income if I had Chapter 7 Bankruptcy discharged in 2018?

solved in comments

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
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