Form 982 Cancellation Of Debt - Any taxpayer that excludes discharged debt from gross income must report the exclusion and related adjustments to tax attributes on form. If you had debt cancelled and are no longer obligated to repay the debt, you generally must include the amount of cancelled debt in your. Qualified principal residence indebtedness can be excluded from income for discharges before january 1, 2026, or discharges subject to an. Next, select form 982 in the left pane (skip steps 8 and 9 if your debt was canceled due to insolvency or bankruptcy).
Any taxpayer that excludes discharged debt from gross income must report the exclusion and related adjustments to tax attributes on form. Qualified principal residence indebtedness can be excluded from income for discharges before january 1, 2026, or discharges subject to an. If you had debt cancelled and are no longer obligated to repay the debt, you generally must include the amount of cancelled debt in your. Next, select form 982 in the left pane (skip steps 8 and 9 if your debt was canceled due to insolvency or bankruptcy).