Ok, I've searched though this forum on what to do about completing our 2008 taxes, in particular what to do with form 982, and I am thoroughly confused.
We were discharged and closed on our C-7, no asset, non-business case November 08. We haven't received any 1099's for any of the discharged debt.
I've seen posts that say because we were are no asset, closed and non-business, we just complete our taxes and file as we would in a normal year (in a way as if the bk didn't happen), no unusual, special forms required (i.e., form 982) that would need to be attached. Which for us, basically be form 1040 pages one, and two.
In other posts I have seen that we do need to complete form 982 and attach it to our return. If so, I am further confused on how to actually complete this form. I've managed to get to checking box 1a and entering on line 2 the amount we discharged (at least I think that is what we would enter on line 2).
And this brings up another question because, although, our foreclosed house was included in the bankruptcy there was no amount listed in the bk paperwork because the company hadn't sold it yet so there was a zero amount put in for value on our bk paperwork. The house was supposed to have finally been sold Feb, 2009 at courthouse auction, which means I may possibly be dealing with this on next years tax form's as well... UGH!
As for the rest of this form I just throw my hands up because I don't have a clue on how to fill it out.
I do apologize for this being as long as it is. I'm just completely confused on what to and I want to make sure we file our taxes the correct way this year, any help or clarification would be appreciated...
We were discharged and closed on our C-7, no asset, non-business case November 08. We haven't received any 1099's for any of the discharged debt.
I've seen posts that say because we were are no asset, closed and non-business, we just complete our taxes and file as we would in a normal year (in a way as if the bk didn't happen), no unusual, special forms required (i.e., form 982) that would need to be attached. Which for us, basically be form 1040 pages one, and two.
In other posts I have seen that we do need to complete form 982 and attach it to our return. If so, I am further confused on how to actually complete this form. I've managed to get to checking box 1a and entering on line 2 the amount we discharged (at least I think that is what we would enter on line 2).
And this brings up another question because, although, our foreclosed house was included in the bankruptcy there was no amount listed in the bk paperwork because the company hadn't sold it yet so there was a zero amount put in for value on our bk paperwork. The house was supposed to have finally been sold Feb, 2009 at courthouse auction, which means I may possibly be dealing with this on next years tax form's as well... UGH!
As for the rest of this form I just throw my hands up because I don't have a clue on how to fill it out.
I do apologize for this being as long as it is. I'm just completely confused on what to and I want to make sure we file our taxes the correct way this year, any help or clarification would be appreciated...
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