Get Form 982 (rev. July 2013) - Internal Revenue Service - Irs

Filling out the Form 982 is an essential process for individuals seeking to report the reduction of tax attributes due to the discharge of indebtedness. This guide provides clear, step-by-step instructions to assist users in completing the form accurately and efficiently online.

Follow the steps to complete Form 982 effectively.

1. Press the ‘Get Form’ button to access the form and open it in your preferred editing platform.
2. Begin filling out the identifying information section. This includes entering your name as it appears on your tax return and the corresponding identifying number.
3. In Part I, indicate the reasons for the exclusion from gross income by checking the applicable boxes regarding the discharge of indebtedness. Ensure to provide accurate selections based on your situation.
4. Document the total amount of the discharged indebtedness excluded from gross income in the specified field.
5. Move to Part II and fill in the necessary sections that apply to reducing the basis of various types of properties. Provide information relevant to your situation and ensure any election statements are complete.
6. Complete Part III by entering the amounts and descriptions as required, particularly for any transactions resulting in basis reductions under section 1017.
7. After completing the form, review any instructions carefully to ensure all required fields are filled accurately.
8. Once satisfied with the form, you can save your changes, download the completed form, print it for your records, or share it as necessary.

Start filling out your Form 982 online today for effective tax attribute management.