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Federal Free Printable Form 982 (Rev. March 2018) for 2019 Federal Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)

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Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)
Form 982 (Rev. March 2018)

Form 982 (Rev. March 2018) Department of the Treasury Internal Revenue Service Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) ▶ ▶ Attach this form to your income tax return. Go to www.irs.gov/Form982 for instructions and the latest information. 1 a b c d e 2 3 Attachment Sequence No. 94 Identifying number Name shown on return Part I OMB No. 1545-0046 General Information (see instructions) Amount excluded is due to (check applicable box(es)): Discharge of indebtedness in a title 11 case . . . . . . . . . Discharge of indebtedness to the extent insolvent (not in a title 11 case) Discharge of qualified farm indebtedness . . . . . . . . . . Discharge of qualified real property business indebtedness . . . . Discharge of qualified principal residence indebtedness (Caution: See was discharged after 2017.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . before checking . . . . . . . . . . . . . . . . . . this box . . . Total amount of discharged indebtedness excluded from gross income . . . . . . . . . 2 Do you elect to treat all real property described in section 1221(a)(1), relating to property held for sale to customers in the ordinary course of a trade or business, as if it were depreciable property? . . . . . . Part II 7 8 Applied to reduce any general business credit carryover to or from the tax year of the discharge . Applied to reduce any minimum tax credit as of the beginning of the tax year immediately after the tax year of the discharge . . . . . . . . . . . . . . . . . . . . . . . . . Applied to reduce any net capital loss for the tax year of the discharge, including any capital loss 9 carryovers to the tax year of the discharge . . . . . . . . . . . . . . . . . . . 10a Applied to reduce the basis of nondepreciable and depreciable property if not reduced on line 5. DO NOT use in the case of discharge of qualified farm indebtedness . . . . . . . . . . b Applied to reduce the basis of your principal residence. Enter amount here ONLY if line 1e is checked . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a For a discharge of qualified farm indebtedness 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 . . . . . . . . . . . . . . . . . . . . . . . . . . b Land used or held for use in a trade or business of farming 5 6 7 8 9 10a 10b 11a . . 11b Other property used or held for use in a trade or business or for the production of income . . . 11c 12 Applied to reduce any passive activity loss and credit carryovers from the tax year of the discharge 12 13 Applied to reduce any foreign tax credit carryover to or from the tax year of the discharge . 13 Part III No 4 . c Yes Reduction of Tax Attributes. You must attach a description of any transactions resulting in the reduction in basis under section 1017. See Regulations section 1.1017-1 for basis reduction ordering rules, and, if applicable, required partnership consent statements. (For additional information, see the instructions for Part II.) Enter amount excluded from gross income: 4 For a discharge of qualified real property business indebtedness applied to reduce the basis of depreciable real property . . . . . . . . . . . . . . . . . . . . . . . . 5 That you elect under section 108(b)(5) to apply first to reduce the basis (under section 1017) of depreciable property . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Applied to reduce any net operating loss that occurred in the tax year of the discharge or carried over to the tax year of the discharge . . . . . . . . . . . . . . . . . . . . . 11 . . . . . . . . if debt . . . . . . . . . . . . . . Consent of Corporation to Adjustment of Basis of Its Property Under Section 1082(a)(2) Under section 1081(b), the corporation named above has excluded $ from its gross income and ending . for the tax year beginning Under that section, the corporation consents to have the basis of its property adjusted in accordance with the regulations prescribed under section 1082(a)(2) in effect at the time of filing its income tax return for that year. The corporation is organized under the laws of . (State of incorporation) Note: You must attach a description of the transactions resulting in the nonrecognition of gain under section 1081. For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 17066E Form 982 (Rev. 3-2018)
Extracted from PDF file 2018-federal-form-982.pdf, last modified March 2018

More about the Federal Form 982 Corporate Income Tax TY 2018

We last updated the Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) in December 2018, so this is the latest version of Form 982, fully updated for tax year 2018. You can download or print current or past-year PDFs of Form 982 directly from TaxFormFinder. You can print other Federal tax forms here.

Related Federal Corporate Income Tax Forms:

TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Federal Form 982.

Form Code Form Name
8982 Affidavit for Partner Modification Amended Return Under IRC Section 6225(c)(2)(A) or Partner Alternative Procedure Under IRC Section 6225(c)(2)(B)

Download all  tax forms View all 775 Federal Income Tax Forms


Form Sources:

The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 982 from the Internal Revenue Service in December 2018.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Federal Form 982

We have a total of seven past-year versions of Form 982 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2018 Form 982

Form 982 (Rev. March 2018)

2017 Form 982

Form 982 (Rev. January 2016)

2016 Form 982

Form 982 (Rev. January 2016)

Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) 2015 Form 982

Form 982 (Rev. January 2016)

Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) 2013 Form 982

Form 982 (Rev. July 2013)

Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) 2012 Form 982

Form 982 (Rev. February 2011)

Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) 2011 Form 982

Form 982 (Rev. February 2011)


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