Form 982 Required for non taxable 1099's?

[dixxie44]

What is the name of your state (only U.S. law)? Georgia

Is a Form 982 required with tax filing in order to prove 2 cancellation of debt 1099's are not taxable? They were issued for 2009.

On the IRS website, it lists insolvency (which was present) and bankruptcy (which was completed Jan 2010) both as reason for exclusion.

I've been told these two events happening in different calendar (tax) years is irrelevant.

 

[LdiJ]

What is the name of your state (only U.S. law)? Georgia

Is a Form 982 required with tax filing in order to prove 2 cancellation of debt 1099's are not taxable? They were issued for 2009.

On the IRS website, it lists insolvency (which was present) and bankruptcy (which was completed Jan 2010) both as reason for exclusion.

I've been told these two events happening in different calendar (tax) years is irrelevant.

Yes, you have to include form 982 with your tax return to exclude the income.