Form 982
ProSeries Professional
Form 982: Reduction of Tax Attributes Due to Discharge of Indebtedness
Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and section 1082 Adjustment), is used for other purposes in addition to reporting the exclusion of forgiveness of qualified principal residence indebtedness. If Form 982 is used to report the exclusion of forgiveness of qualified principal residence indebtedness (as the result of foreclosure on a principal residence) complete lines 1e and 2. If the taxpayer/spouse kept ownership of the home, and modification of the terms of the mortgage resulted in the forgiveness of qualified principal residence indebtedness, complete only lines 1e, 2, and 10b.
ProSeries does not automatically perform the reduction of tax attributes and does not capture the adjustments made which may impact carry forward amounts for the 2009 tax year.
To access Form 982, use the Open Forms List when inside the return, or click on the "Where Do I Enter" feature.
Manually enter all necessary information onto Form 982.
