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Form Au 331

Form Au 331

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all right for this video I want to go over the form 1099c and this is going to be for the 2023 tax year and we want to cover how to report the 1099c on your income tax return with the IRS form 982 so the 982 can be used if you have canceled debt income and you are trying to exclude some or all of that income from your taxable income so we'll cover the 982 and it is part of the full 1040 for the taxpayer so we'll go over all the forms and schedules uh and then of course we'll cover the 1099c in more detail how this information is inputed and then we also have the IRS publication 4681 which covers these canceled debts and we'll need to reference this for the insolvency worksheet that we're going to be looking at and then we do have one slide here covering some background on this canceled debt income and the exclusion and some details on the fact pattern and then lastly I have a insolvency worksheet for taxpayers so we'll go through all of t

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