Form 982 Debt forgiveness

For 2016 Tax Tips For Year 2016.

LinkBack

Thread Tools

Search this Thread

Display Modes

#1 (permalink)

03-25-2017, 10:47 AM

njct1160

Junior Member

Join Date: Mar 2017

Posts: 1

Form 982 Debt forgiveness

I received a 1099 for an equity loan that was discharged in bankruptcy. The amount was 56,000. I still own this home (my prime residence). The value of the home is 190,000 and the amount owed is 220,000. Do I enter 0 on line 10 of the form 982?

Ads

« Capital gains on rental house | MULTIPLY 10x YOUR BITCOINS WITHIN 10 Minutes! »

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts vB code is On Smilies are On [IMG] code is On HTML code is Off Trackbacks are Off Pingbacks are Off Refbacks are Off

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Debt Forgiveness	mvp3	Income	5	05-15-2013 01:48 AM
Mortgage Debt Forgiveness	lauralen	Rental Real-Estate	1	12-18-2012 10:15 PM
Forgiveness of debt	David GEE	Income	1	04-13-2012 12:38 PM
Ten Facts about Mortgage Debt Forgiveness	Samatg	For 2009	0	03-05-2010 01:38 AM
Mortgage Debt Forgiveness	Samatg	For 2008	0	03-05-2009 04:20 PM

» Categories

Ask TaxGuru?

Individual

» Income

» Estimated Taxes

» Capital Gains

» Itemized Deductions

» IRA/Sep

» Rental Real-Estate

» Alternative Minimum Tax

» Filing Requirements

» Sole-Proprietorship

» Medical

» Auto Expenses

» Social Security

» Tax Credit

» Depreciation

» Divorce Tax Issues

» Homeowner Tax

» Multistate

Corporations

» C-Corporation

» S-Corporation

» Limited Liability Company

» Payroll

» Multistate Tax Issues

» Non-Profit Organisation

» Trusts and Gift Tax Returns

Forum for CPAs

» CPA Forums

Financial Planning

» Estate Planning

» Retirement Planning

» Investment Strategy

» Education Planning

» Life Insurance

» Tax News

» Tax Calculators

» Downloads

» Contact Us

» Latest Tax Tips
How can I obtain the IRS 2021 Form W-7 with the...
IRS extends C Corporation filing date to May 17, 2021
Which Taxpayer Qualifies for Advance Payments?
How do you get a "147C Online- EIN Designation Confirmation...
What are the Foreign Earned Income Exclusion for 2019?

» Recent Tax Q&A
No Threads to Display.

» Free Downloads

Latest Files

What Are the Important Highlights Of 2010 Tax Law
EzWagez Payroll System
TurboCASH
AlauxSoft Accounts and Budget
Gas Mileage MPG Tracker