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Stacy
Stacy asked in Business & FinanceTaxesUnited States · 7 years ago

How do I file form 982 for insolvency?

I recently received a tax bill from the IRS for over $4,000. I previously received a 1099 for forgiven student loans due to permanent disability.

Can I just fill out form 982 and send it to the IRS or do I need to amend my tax return to include it? This is for tax year 2012.

Also, I am supposed to add up all of my assets and liabilities immediately before the loan was forgiven. Do I need to show copies of credit card statements (for liabilities) and proof of my homes value?

Thank you!

2 Answers

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  • ?
    Lv 7
    7 years ago

    You need to seek professional assistance.

    If the notice was a CP2000, send the completed form 982 (you must do the tax attribute section too) along with your insolvency worksheet from IRS publication 4681.

  • tro
    Lv 7
    7 years ago

    I think you mean the 430 and additional forma with the Offer in Compromise

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