Aug 27, 2025 · Information about Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment), including recent updates, related forms, …

Mar 15, 2025 · If you’re asking yourself how to fill out Form 982, this simple guide will break it down step by step, with everything you need to know about using this form to report debt …

Apr 16, 2025 · What exactly is Form 982 used for? Form 982 is used to tell the IRS that you qualify for an exception that allows you to exclude certain canceled debts from being counted …

This article is a detailed, line-by-line guide to completing IRS Form 982 for taxpayers who need to report the exclusion of canceled debt from income and the required reduction of tax attributes.

Sep 8, 2025 · In this article, we’ll walk through the different types of forgiven debt you may exclude on your income tax return, and how to report it on Form 982. Let’s start by walking …

Mar 21, 2025 · Filing Form 982 correctly is crucial for reducing taxable income from canceled debts. Whether your debt was discharged due to bankruptcy, insolvency, or mortgage …

The following articles are the top questions referring to Reduction of Tax Attributes Due to Discharge of Indebtedness (Form 982). Related input is found in Screen 62, Discharge of …

When to File Form 982? You received a Form 1099-C, Cancellation of Debt, indicating forgiven debt. You qualify to exclude the discharged debt from your income under specific provisions of …

Jun 8, 2023 · This document offers comprehensive guidance on completing Form 982, used for reducing tax attributes due to discharge of indebtedness and section 1082 basis adjustment.

You must file Form 982 to report the exclusion and the reduction of certain tax attributes either dollar for dollar or 33 1 / 3 cents per dollar (as explained later).