Form 982, Reduction of Tax Attributes Instructions
This form contains 27 fields organized into 17 sections, giving it a Form Complexity Index of 35/100 (basic). Below is a complete list of every field, its type, and what information is expected.
| Field Name | Type | Description |
|---|---|---|
| Corporation Consent and Tax Year Information | ||
| Amount Excluded from Gross Income | Number |
Enter the amount the corporation excluded from gross income under section 1081(b).
|
| Tax Year Beginning Date | Date |
Enter the date on which the corporation's tax year began.
|
| Tax Year Ending Date | Date |
Enter the date on which the corporation's tax year ended.
|
| State of Incorporation | Text |
Enter the state or jurisdiction under whose laws the corporation is organized.
|
| Discharged Indebtedness Exclusion Types and Amount | ||
| Discharge of indebtedness in a title 11 case | Checkbox |
Check this box if the excluded discharge of indebtedness occurred in a title 11 bankruptcy case.
|
| Discharge of indebtedness to the extent insolvent | Checkbox |
Check this box if the indebtedness was discharged while the taxpayer was insolvent, and the discharge was not in a title 11 case.
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| Discharge of qualified farm indebtedness | Checkbox |
Check this box if the excluded discharged indebtedness qualifies as farm indebtedness under the applicable tax rules.
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| Discharge of qualified real property business indebtedness | Checkbox |
Check this box if the excluded discharged indebtedness qualifies as real property business indebtedness.
|
| Discharge of qualified principal residence indebtedness | Checkbox |
Check this box if the excluded discharged indebtedness qualifies as principal residence indebtedness, after reviewing the instructions if the debt was discharged after 2017.
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| Total Excluded Discharged Indebtedness | Number |
Enter the total amount of discharged indebtedness excluded from gross income.
|
| Part II Line 10a Amount | ||
| Line 10a Amount | Number |
Enter the amount applied to reduce the basis of nondepreciable and depreciable property not reduced on line 5. Fill only if 'Part II Line 5 Amount' is not used to reduce the basis.
Depends on:
Part II Line 5 Amount
|
| Part II Line 10b Amount | ||
| Principal Residence Basis Reduction Amount | Number |
Enter the amount applied to reduce the basis of your principal residence, only if line 1e is checked. Fill only if 'Discharge of qualified principal residence indebtedness' is 'Yes'.
Depends on:
Discharge of qualified principal residence indebtedness
|
| Part II Line 11a Amount | ||
| a Depreciable property used or held for use in a trade or business or for the production of income if not reduced on line 5. 11a | Text |
Enter the amount applied to reduce the basis of depreciable property used or held for use in a trade or business or for the production of income if not reduced on line 5. Fill only if 'Discharge of qualified farm indebtedness' is 'Yes'.
Depends on:
Discharge of qualified farm indebtedness
|
| Part II Line 11b Amount | ||
| Land Used in Farming Amount | Number |
Enter the amount of qualified farm indebtedness applied to reduce the basis of land used or held for use in a trade or business of farming. Fill only if 'Discharge of qualified farm indebtedness' is 'Yes'.
Depends on:
Discharge of qualified farm indebtedness
|
| Part II Line 11c Amount | ||
| Other Property Basis Reduction Amount | Number |
Enter the amount applied to reduce the basis of other property used or held for use in a trade or business or for the production of income. Fill only if 'Discharge of qualified farm indebtedness' is 'Yes'.
Depends on:
Discharge of qualified farm indebtedness
|
| Part II Line 12 Amount | ||
| Line 12 Amount | Number |
Enter the amount applied to reduce passive activity losses and credit carryovers from the tax year of the discharge.
|
| Part II Line 13 Amount | ||
| Foreign Tax Credit Carryover Reduction Amount | Number |
Enter the amount applied to reduce any foreign tax credit carryover to or from the tax year of the discharge.
|
| Part II Line 4 Amount | ||
| Line 4 Amount | Number |
Enter the amount of qualified real property business indebtedness applied to reduce the basis of depreciable real property. Fill only if 'Discharge of qualified real property business indebtedness' is 'Yes'.
Depends on:
Discharge of qualified real property business indebtedness
|
| Part II Line 5 Amount | ||
| Part II Line 5 Amount | Number |
Enter the amount applied under section 108(b)(5) to first reduce the basis of depreciable property. Fill only if 'Yes' is 'Yes'.
Depends on:
Yes
|
| Part II Line 6 Amount | ||
| Line 6 Amount | Number |
Enter the amount of net operating loss carryover applied to reduce tax attributes in the tax year of the discharge or carried over to the discharge year.
|
| Part II Line 7 Amount | ||
| topmostSubform[0].Page1[0].f1_7[0 | Text |
Enter the general information required for the form. This could include your name, address, or other identifying information.
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| Part II Line 8 Amount | ||
| Part II Line 8 Amount | Number |
Enter the amount applied to reduce the minimum tax credit as of the beginning of the tax year immediately after the year of the discharge.
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| Part II Line 9 Amount | ||
| Line 9 Amount | Number |
Enter the amount of discharged indebtedness applied to reduce any net capital loss for the tax year of the discharge, including capital loss carryovers to that tax year.
|
| Real Property Election | ||
| Yes | Checkbox |
Check this box if you elect to treat all real property described in section 1221(a)(1) and held for sale to customers in the ordinary course of a trade or business as if it were depreciable property.
|
| No | Checkbox |
Check this box if you do not elect to treat the specified real property as depreciable property.
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| Taxpayer Identification | ||
| Name Shown on Return | Text |
Enter the taxpayer name exactly as it appears on the associated income tax return.
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| Identifying Number | Text |
Enter the taxpayer identification number associated with the return.
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