rkworsham
Level 1
05-21-2020
01:10 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Labels
George4Tacks
Level 15
05-21-2020
01:55 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
982 will be applicable to CA as well as IRS. https://proconnect.intuit.com/community/help-articles/help/generating-form-982-reduction-of-tax-attr...
Note that the discharge does NOT flow to 1040, so you need to enter another "other income" item such as "Insolvency Form 982" and a negative number to indicate the amount.
Answers are easy. Questions are hard!
Level 15
05-21-2020
01:56 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Since CA starts with the fed AGI and the federal copy is sent with CA, Ive never done anything extra on a CA return for canceled debt with insolvency....but Im using proseries, so maybe PTO is different
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪