1099c

[tsuewalker]

Client has a 1099C with the amt of $18,369 in box 3 and in box 4 it lists it's for a vehicle. Box 5 has check mark in it. This debt was discharged in bankruptcy. The $18,369 is going to be taxable, I believe, but atty told them to fill out form 982. Don't think this form will help them to keep from paying taxes on it. Am I correct or can I use form 982.
Thank you in advance.

tsw

[dkss]

I would use a 982.

[tsuewalker]

1099c

Ok, I don't find this form on my program. I pulled one off of IRS with the instructions. I've never seen this form, so this is all new to me. Do I just check the 1a box in Part I and put the $18,369 in box 2. Do I have to fill out Part II and Part III? Final question, does this now become a paper return? Thanks for your help in advance.

tsw