Turbo Tax and form 982...please help.

[BrokeLoser]

I'm doing my own taxes using Turbo Tax, last minute I know.
I received two 1099-c forms from two creditors that were discharged. I already completed the interview process in Turbo Tax and now I'm trying to go back and find the form 982 or where the interview may have asked if I filed BK in 2011 so I can add the 1099's. I can't find the form or question anywhere.
Does anyone know anything about this?
I'm using Turbo Tax Home & Business.

Thanks

[TheBajan]

Another person recently posted about this. They had actually called and spoken to a Turbo Tax representative who gave them bad information. Unfortunately, in their case they were going to have to amend their return. I am under the impression that the basic Turbo Tax version doesn't accommodate this form. You should call a rep and have them walk you through it. If you can't do it online, you can still use Turbo Tax for everything else.... just don't complete the filing with it. Print out the info, download the from from www.irs.gov and then complete your taxes by hand. Make any adjustments to what you already did with Turbo Tax and mail it in. Best of luck to you... it sounds more complicated than it really is.

The Bajan

[BrokeLoser]

Another person recently posted about this. They had actually called and spoken to a Turbo Tax representative who gave them bad information. Unfortunately, in their case they were going to have to amend their return. I am under the impression that the basic Turbo Tax version doesn't accommodate this form. You should call a rep and have them walk you through it. If you can't do it online, you can still use Turbo Tax for everything else.... just don't complete the filing with it. Print out the info, download the from from www.irs.gov and then complete your taxes by hand. Make any adjustments to what you already did with Turbo Tax and mail it in. Best of luck to you... it sounds more complicated than it really is.

The Bajan

Okay, thanks for the detailed response
Can I mail in the completed form 982 after I have filed my return electronically?

[TheBajan]

Edited to add....

You can use Turbo tax to file electronically, but the forms are only available on the Home and Business edition. You must go the forms portion of the taxes and click add forms and add the 982. Fill it out there and then click and add for insolvency of debt. Fill it out with your asset to liability ratios and then you can electronically file.

I found this info online regarding the version of Turbo tax you are using. Hope that helps you find the form.

Cheers!

[BrokeLoser]

Edited to add....

You can use Turbo tax to file electronically, but the forms are only available on the Home and Business edition. You must go the forms portion of the taxes and click add forms and add the 982. Fill it out there and then click and add for insolvency of debt. Fill it out with your asset to liability ratios and then you can electronically file.

I found this info online regarding the version of Turbo tax you are using. Hope that helps you find the form.

Cheers!

Awesome info...thanks...I think I can figure it out now.

[BrokeLoser]

Another question.
I had several creditors discharged in my 7 but I only received 1099's from two of them. How do I know others didn't send them out and I just never received them? None came via certified mail.
If there are others that 1099'd me but the 1099's were never received and the IRS catches this due to obvious cross-referencing will they (the IRS) require me to file a completely amended return?

[TheBajan]

You are almost out of time but if you can reach the creditors still in question, I would call and attempt to find out if they did send you a 1099. If so, have them just fax you a copy quickly and add it to your filing. On the other hand, if you can't get a hold of all of them, then the one's in question may show up next year or not at all. They aren't always required to send them to you. For your peace of mind... try to reach them. If one was lost in the mail and the IRS later makes mention of it, you can do a simple amended return. It's not a big deal.
Best wishes,
The Bajan