Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
Trying to fill out form 982 line 10a for 2017 tax year so
Trying to fill out form 982 line 10a for 2017 tax year so that I want pay taxes on my forgiven credit card debt. Already filled out insolvency worksheet and am insolvent in the amount of $19,866 (liab… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,218 satisfied customers
I received a surprise 1099c, which I didn't find out about
I received a surprise 1099c, which I didn't find out about until a year after my taxes were filed. The 1099c was for a second mortgage used to repair my home and was forgiven after a home loan modific… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I need to amend my 2016 taxes because a debt was cancelled
I need to amend my 2016 taxes because a debt was cancelled for a motorcycle loan aster it was reposted after a bankruptcy. I don't know how to fill out form 982 … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,218 satisfied customers
Filling out form 982 form insolvency. specifically part ii
filling out form 982 form insolvency. specifically part ii reduction of tax attributes. received 1099-c for cancellation of debt. already filled and paid taxes for 2017. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I have a 1099c credit card charge off from 2016. I looking
Hi my names is Joann, I have a 1099c credit card charge off from 2016 . I looking to see if I can have the amount be non taxable due to insolvency. I need help with tax for 982 … read more
Cole Parker
Cole Parker
Principal/CPA
Bachelor's Degree
238 satisfied customers
If you received a form 1099-c from a rental property where
If you received a form 1099-c from a rental property where is it reported on the 1040. Ex. Property held for over a year. Amount owed per 1099- C is 150,000 fmv 90,000 … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,218 satisfied customers
I have 2 1099-c. I am still paying on the debt through a
I have 2 1099-c. I am still paying on the debt through a bill pay service. Do I still have to claim the money? … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
4,218 satisfied customers
Form 1099-C (2016) Cancellation of Debt Box 7 Fair market
Form 1099-C (2016) Cancellation of Debt Box 7 Fair market value (FMV) of property shows zero. Why zero? The FMV is the most frequent figure on Form 1099-C. The amount in Box 2 is 111,xxx. Box 1 Date o… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I have a question regarding solvency from discharged debts.
I have a question regarding solvency from discharged debts. How to handle it on the 982 form. My debt is from credit card debt and I don't quite understand how to fill out the 982 form? … read more
PDtax
PDtax
Owner
Master's Degree
9,538 satisfied customers
Received Federal Form 1099-C (CANCELLATION OF DEPT) The amount
Received Federal Form 1099-C (CANCELLATION OF DEPT) The amount of debt discharged on line 2 was on a "Home Equity" which I had obtained. Prior to receiving this 1099-C I had filed for BANKRUPTCY (Invo… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I am filling out my tax return for my husband and I for 2011
I am filling out my tax return for my husband and I for 2011 and have a question regarding the 982. We are filing jointly and we short sold a rental property in Oct 2011. We received an 1099 C from th… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I have a question regarding Part II of Form 982 Reduction of
I have a question regarding Part II of Form 982 Reduction of Tax Attributes Due to Disccharge of Indebtedness. We qualify for the exclusion of 100% of the income reported on 1099-C based on the insolv… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,682 satisfied customers
I received a 1099 from Bank of America and Discover for amounts
I received a 1099 from Bank of America and Discover for amounts on cards that were their "business" cards. My husband and I are both small business owners and file a 1040 every year. This past year we… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I have forgiven/cancelled debts from Credit Card companies.
I have forgiven/cancelled debts from Credit Card companies. The 1099s that are issued by credit card companies get added to income. I am retired, have no income, have very low cash balances. I usred H… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I am filing a Form 928 to exclude 1099-C credit card written
I am filing a Form 928 to exclude 1099-C credit card written off debt. I have filled out an involvency worksheet and even have created an exhibt to file with my taxes indicating how I came to my value… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,494 satisfied customers
I had credit card debt only (my mortgage was not affected)
I had credit card debt only (my mortgage was not affected) discharged through a chapter 7 bankruptcy. Do I need to file a Form 982? If so, how do I fill out part II?… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
In an effort to get out from under in this economic down-turn,
In an effort to get "out from under" in this economic down-turn, I have recently settled one of my credit card accounts for approximately 25% of the outstanding balance. Having done that, I was advise… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
2,158 satisfied customers
I have paided off 2 credit card debts this past year for ...
I have paided off 2 credit card debts this past year for 50% or less of the original payment due. I have received a 1099 form from these 2 credit card companies. How do or what form do I need to use i… read more
Wayne Brasch
Wayne Brasch
Accountant and Business Consultant
Master Degree
718 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x