Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Re: Insolvency on 1041
Insolvency on 1041
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
carolsawaya858
Level 2
02-18-2023
02:53 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Client passed away and has credit card COD's in social security number in the year following her death.
I showed the COD as other income, but is there an insolvency form 982 on the 1041?
Not sure how to show insolvency on 1041.
Labels
3 Comments 3
carolsawaya858
Level 2
02-18-2023
03:36 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Sale of stock, schedule D. No Capital gains, but required to be reported.
BobKamman
Level 15
02-18-2023
03:44 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Well, no, that's a common misconception, "gross income" is not the same as "gross proceeds." So maybe you're still under $600. Were the proceeds used to pay the debt? Should they have been?
