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My girlfriend received a letter in the mail from Bank of
My girlfriend received a letter in the mail from Bank of America credit card company. The letter states that the company is canceling her debt of $19,000. She is on total SSI disability and she only r… read more
Gerald, Esq
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My girlfriend received a letter in the mail from Bank of
My girlfriend received a letter in the mail from Bank of America credit card company. The letter states that the company is canceling her debt of $19,000. She is on total SSI disability and she only r… read more
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After my girlfriend fills out the correct form for the
After my girlfriend fills out the correct form for the forgiveness of debt, does she also have to fill out the standard 1040 form? She has been on SSI disability for 8 years and she hasnt had to file … read more
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I received a form 1099c forgiveness on a Fanny Mae
I received a form 1099c for loan forgiveness on a Fanny Mae education loan. It was for total and permanent disability with a follow up in 3 years. It was a code F. Can i fill out a form 982? After I f… read more
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Arizona: I filed a 1099c this year loan forgives of
Arizona: I filed a 1099c this year for a loan forgives of a fed student loan on the basis of total and permanent disability - code F. Do need to fill out a form 982 to attach to my federal and state… read more
Megan C
Megan C
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I am considering the option of discharging my student loan
I am considering the option of discharging my student loan debt due to a disability that is expected to last 5 years or more...i've been reading that I would be responsible for tax implications for th… read more
Megan C
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I have recieved a couple of 1099-c forms for credit cards.
I have recieved a couple of 1099-c forms for credit cards. do i need to fill out a 982 to reduce the taxes I owe? I could use some simple instructions on how to fill out the 982 form and what needs to… read more
Megan C
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I have been out on SDI since Nov 2011 and finally retired July
I have been out on SDI since Nov 2011 and finally retired July 2012 - 10 months short of receiving my 100% SS. I do not own my house and most of my deductions were minimal I did receive SDI for the ye… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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My ex and I are filing our taxes separately and we completed
My ex and I are filing our taxes separately and we completed a deed-in-lieu of foreclosure last year. The 1099-c from one bank only has my name on it. The 1099-a from the other bank has both names. Do… read more
Lev
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Bachelor's Degree Equivalent
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Got my 1099-C for short sale in 2012.....I have always done
Got my 1099-C for short sale in 2012.....I have always done my own taxes, but I need help here. Need to know what forms for this. So far, my research shows 982 and 4797? Bought in 2007, sold in 2012. … read more
PDtax
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On the advice of a bankruptcy lawyer ( not a tax atty ) I filed
On the advice of a bankruptcy lawyer ( not a tax atty ) I filed a 2011 tax return with a 201,000 mortage forgiveness on form 982 as exempt from income taxes as this was a second mortgage on my princip… read more
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I recently went on long-term disability and have had a student
I recently went on long-term disability and have had a student loan forgive because of the LTD. Wellsfargo will be sending a 1099C. Is this forgive loan taxable income?… read more
Megan C
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We received a 1099-C fromour Mortgage Company because it was
We received a 1099-C fromour Mortgage Company because it was getting out the mortgage business (Beneficial). The amount was $3,018. I included this as income on my 2101 1040 and filed the appropriate … read more
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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
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I have a form 1099 2008 Form showing # 2 Balance of Principal
I have a form 1099 2008 Form showing # XXXXX Balance of Principal outstanding $ 845,522.56 # XXXXX 100.00 Fair market value I am told to fill out form 982 Reduction of Tax Attributes due to Discharge … read more
Chad Oberg
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I had two properties sold on short sale in california in 2009.
I had two properties sold on short sale in california in 2009. I had those properties on rental. I showed rental income from those properies in my prev. 1040. I have my prymary residence where I live … read more
Chad Oberg
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Cancellation of debt for a deceased taxpayer. - If the deceased
Cancellation of debt for a deceased taxpayer. - If the deceased taxpayer was insolvent right before the debt was cancelled to the full extent of the debt cancelled and this is the only income the esta… read more
BusValTaxPro
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A credit card co. accepted a payoff of less than the ...
A credit card co. accepted a payoff of less than the original amount owed . They turned it in as a business loss ,now the IRS says my friend owes taxes on the difference in the two amounts. She is dev… read more
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