Get the free 2009 form 982

For Paperwork Reduction Act Notice see page 5 of this form. Cat. No. 17066E Rev. 2-2009 Page Form 982 Rev. 2-2009 General Instructions Purpose of Form Section references are to the Internal Revenue Code unless otherwise noted. Generally the amount by which you benefit from the However under certain circumstances described in section 108 you can exclude the amount of discharged indebtedness from your gross income. A title 11 case is a case under t...

How to fill out 2009 form 982

How to fill out 2009 form 982:

1. Obtain a copy of the 2009 form 982 from the Internal Revenue Service (IRS) website or by visiting your local IRS office.
2. Read the instructions carefully to understand the purpose and requirements of form 982.
3. Provide your personal information at the top of the form, including your name, social security number, and address.
4. Enter the applicable tax year and the date you are completing the form in the designated sections.
5. Fill in the specific details related to your canceled debts or the reduction of your tax attributes. This may include information such as the amount of canceled debt, the type of debt, and the reason for the cancellation.
6. Calculate the total amount of canceled debt excluded from your taxable income and enter it in the appropriate box on the form.
7. If you are claiming an insolvency exclusion, fill out the insolvency worksheet provided in the instructions and enter the calculated amount in the corresponding section on the form.
8. Follow the instructions to determine if you qualify for any other specific exclusions or reductions and provide the required information accordingly.
9. Double-check all the information you have entered on the form to ensure accuracy.
10. Sign and date the form, and attach any additional documentation required by the IRS.
11. Make a copy of the completed form and all supporting documents for your records.

Who needs 2009 form 982:

1. Individuals who have received canceled debts or had their tax attributes reduced during the tax year 2009.
2. Those who believe they meet the qualifications for excluding canceled debts from their taxable income.
3. Individuals who need to claim insolvency or other specific exclusions or reductions related to their canceled debts for the tax year 2009.

For pdfFiller’s FAQs

What is form 982?

Form 982 is a tax form used by taxpayers to report the exclusion of canceled debt from income under certain circumstances.

Who is required to file form 982?

Individuals or businesses who have had their debt canceled or forgiven may be required to file Form 982 to exclude the canceled debt from their taxable income.

How to fill out form 982?

To fill out Form 982, you will need to provide your personal information, details of the canceled debt, the specific exclusion you are claiming, and any applicable supporting documentation.

What is the purpose of form 982?

The purpose of Form 982 is to allow taxpayers to exclude canceled debt from their taxable income, reducing the potential tax liability associated with debt forgiveness.

What information must be reported on form 982?

On Form 982, you must report your identifying information, the amount of canceled debt you are excluding, the specific exclusion you are claiming, and any relevant tax attributes.

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