In 2008 my husband and I had a mobile home repossessed. It was in both our names. Since then we divorced in 2012 and he died in 2017. I am disabled since 1999 and I only receive Social Security Disability and Survivors Benifits. Without going into things too deeply, I filed and was awarded separation by injured spouse for taxes going back to 2008. I received a 1099c saying the account was discharged. Am I really responsible to claim this on my taxes? It would mean I'd owe over $5000. That's 1/3 of my yearly income. He was the one earning 100k a year. Is there anything I can do to eliminate this or at least reduce it?
Go to a professional and have this simple tax return prepared. At the same time look at the rules regarding a IRS tax form 982. You sound like you would be considered "insolvent" so therefore that discharge would be tax free.
You seem to be lost on the internet.
You’ve come to a Peer User community for Intuit Income Tax Preparation products supporting tax preparation professionals using ProSeries, Proconnect and Lacerte Tax Preparation programs, and you may be looking for support as an individual taxpayer using TurboTax. Please visit the TurboTax Help site for support.
And try this screen, for the various topics (subforums): https://ttlc.intuit.com/community/discussions/discussion/03/302
Your sign in user info here is the same one you can use over at the TurboTax forum.
Thanks.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.