Ok, I have been all over the web and seen a ton of questions and answers about filling out form 982 but nothing for a simple situation such as mine. I have also read all there is on the IRS site but none of it makes any sense!
My husband and I filed Chapter 7 last year (2008). It was discharged in July 2008. The total claim was $52,292.07. It was all credit cards. We did not own a home. We have a homestead deed that was drawn up prior to the actual discharge (April 2008) that lists all of our "exempt" assets and it totals $11227.59. This amount included our tax refund from last year but that amount had to be paid back so the actual asset total is $7232.59.
We received only one 1099-C and that was for $3557.74 from one of the credit card companies. We have not received any others.
Our taxes are absolutely as simple as they get, right up to this form. What do I put on the form 982? Do I put the total of the discharge or just the amount that is shown on the one 1099-C that I received?
Also, I was reading that I needed to submit something to prove insolvency? What do I need to submit? Doesn't the discharge of the bankruptcy prove I was insolvent?
We are a military family living in Japan and we are not getting any help. I called the navy legal office and was told that they could not help with this issue because it was outside the realm of what they know and they could not offer any assistance (banging my head against the wall!!!).
Any information would be great!!
Thanks!
My husband and I filed Chapter 7 last year (2008). It was discharged in July 2008. The total claim was $52,292.07. It was all credit cards. We did not own a home. We have a homestead deed that was drawn up prior to the actual discharge (April 2008) that lists all of our "exempt" assets and it totals $11227.59. This amount included our tax refund from last year but that amount had to be paid back so the actual asset total is $7232.59.
We received only one 1099-C and that was for $3557.74 from one of the credit card companies. We have not received any others.
Our taxes are absolutely as simple as they get, right up to this form. What do I put on the form 982? Do I put the total of the discharge or just the amount that is shown on the one 1099-C that I received?
Also, I was reading that I needed to submit something to prove insolvency? What do I need to submit? Doesn't the discharge of the bankruptcy prove I was insolvent?
We are a military family living in Japan and we are not getting any help. I called the navy legal office and was told that they could not help with this issue because it was outside the realm of what they know and they could not offer any assistance (banging my head against the wall!!!).
Any information would be great!!
Thanks!
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