Form 982 problem

anyone having form 982 problems? I had a client completed but not filed with 982 inputs for cancellation of residence mortgage debt. Now I think an update has magically changed the results because all of a sudden it is showing as 100% taxable! Any similar experiences? Fixes? Or is this an error to wait for Lacerte to fix?


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It is advisable to enter it as income TWICE. Once as a positive with description and a second time as a negative with something "Excludible per Schedule 982"

982 is separate from the income reporting. It is a support for the exclusion.

Put "982" in the Ask Lacerte box for more info.

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George4Tacks , Sometimes Sarcastic Socratic!
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