Exclusion Type

To check a particular box on line 1 for Form 982, open the 982 screen in data entry and for Part I – General Information, Amount excluded is due to, select

• Title 11 Case for Box A

• Insolvency for Box B

• Farm Indebtedness for Box C

• Real Property Indebtedness for Box D

• Principal Residence Indebtedness for Box E

Title 11 Definition

Per the Form 982 Instructions:

"A title 11 case is a case under title 11 of the United States Code (relating to bankruptcy), but only if you are under the jurisdiction of the court in the case and the discharge of indebtedness is granted by the court or is under a plan approved by the court."

Number of Forms

The software is set up to e-file or print only one Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness.

EF Messages

EF Message 5014 refers to an entry on screen 982, line 5, Elect under sec. 108(b)(5) to reduce basis of depreciable property, which requires an explanatory statement. To clear message 5014, open the SCH screen, select 387 - 982 LN 5, REDUCE BASIS from the Type of attachment/statement number and title drop list and complete the explanation.

Message 5675 refers to the election option box "Making Section 108(i) election" at the bottom of screen 982, which requires an explanatory statement. Open the SCH screen from the Miscellaneous tab, select E1 – Section 108(i) Election from the Type of attachment/statement number and title drop list and complete the explanation.

For additional information about these elections, including the availability of the Section 108(i) election, see the Form 982 Instructions.