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H&r Block At Home Deluxe State 2012 Download

H&r block at home deluxe state 2012 download Publication 15-A - Introductory Material Table of Contents Future Developments What's New Reminders Introduction Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 15-A, such as legislation enacted after it was published, go to www. H&r block at home deluxe state 2012 download irs. H&r block at home deluxe state 2012 download gov/pub15a. H&r block at home deluxe state 2012 download What's New Social security and Medicare tax for 2014. H&r block at home deluxe state 2012 download  The social security tax rate is 6. H&r block at home deluxe state 2012 download 2% each for the employee and employer, unchanged from 2013. H&r block at home deluxe state 2012 download The social security wage base limit is $117,000. H&r block at home deluxe state 2012 download The Medicare tax rate is 1. H&r block at home deluxe state 2012 download 45% each for the employee and employer, unchanged from 2013. H&r block at home deluxe state 2012 download There is no wage base limit for Medicare tax. H&r block at home deluxe state 2012 download Social security and Medicare taxes apply to the wages of household workers you pay $1,900 or more in cash or an equivalent form of compensation. H&r block at home deluxe state 2012 download Social security and Medicare taxes apply to election workers who are paid $1,600 or more in cash or an equivalent form of compensation. H&r block at home deluxe state 2012 download Withholding allowance. H&r block at home deluxe state 2012 download  The 2014 amount for one withholding allowance on an annual basis is $3,950. H&r block at home deluxe state 2012 download Same-sex marriage. H&r block at home deluxe state 2012 download  For federal tax purposes, individuals of the same sex are considered married if they were lawfully married in a state (or foreign country) whose laws authorize the marriage of two individuals of the same sex, even if the state (or foreign country) in which they now live does not recognize same-sex marriage. H&r block at home deluxe state 2012 download For more information, see Revenue Ruling 2013-17, 2013-38 I. H&r block at home deluxe state 2012 download R. H&r block at home deluxe state 2012 download B. H&r block at home deluxe state 2012 download 201, available at www. H&r block at home deluxe state 2012 download irs. H&r block at home deluxe state 2012 download gov/irb/2013-38_IRB/ar07. H&r block at home deluxe state 2012 download html. H&r block at home deluxe state 2012 download Notice 2013-61 provides special administrative procedures for employers to make claims for refunds or adjustments of overpayments of social security and Medicare taxes with respect to certain same-sex spouse benefits before expiration of the period of limitations. H&r block at home deluxe state 2012 download Notice 2013-61, 2013-44 I. H&r block at home deluxe state 2012 download R. H&r block at home deluxe state 2012 download B. H&r block at home deluxe state 2012 download 432, is available at www. H&r block at home deluxe state 2012 download irs. H&r block at home deluxe state 2012 download gov/irb/2013-44_IRB/ar10. H&r block at home deluxe state 2012 download html. H&r block at home deluxe state 2012 download Reminders Additional Medicare Tax withholding. H&r block at home deluxe state 2012 download . H&r block at home deluxe state 2012 download  In addition to withholding Medicare tax at 1. H&r block at home deluxe state 2012 download 45%, you must withhold a 0. H&r block at home deluxe state 2012 download 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. H&r block at home deluxe state 2012 download You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. H&r block at home deluxe state 2012 download Additional Medicare Tax is only imposed on the employee. H&r block at home deluxe state 2012 download There is no employer share of Additional Medicare Tax. H&r block at home deluxe state 2012 download All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 withholding threshold. H&r block at home deluxe state 2012 download For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E), Employer's Tax Guide. H&r block at home deluxe state 2012 download For more information on Additional Medicare Tax, visit IRS. H&r block at home deluxe state 2012 download gov and enter “Additional Medicare Tax” in the search box. H&r block at home deluxe state 2012 download Work opportunity tax credit for qualified tax-exempt organizations hiring qualified veterans. H&r block at home deluxe state 2012 download  The work opportunity tax credit is available for eligible unemployed veterans who begin work on or after November 22, 2011, and before January 1, 2014. H&r block at home deluxe state 2012 download Qualified tax-exempt organizations that hire eligible unemployed veterans can claim the work opportunity tax credit against their payroll tax liability using Form 5884-C, Work Opportunity Credit for Qualified Tax-Exempt Organizations Hiring Qualified Veterans. H&r block at home deluxe state 2012 download For more information, visit IRS. H&r block at home deluxe state 2012 download gov and enter “work opportunity tax credit” in the search box. H&r block at home deluxe state 2012 download COBRA premium assistance credit. H&r block at home deluxe state 2012 download  The credit for COBRA premium assistance payments applies to premiums paid for employees involuntarily terminated between September 1, 2008, and May 31, 2010, and to premiums paid for up to 15 months. H&r block at home deluxe state 2012 download For more information, see COBRA premium assistance credit in Publication 15 (Circular E). H&r block at home deluxe state 2012 download Federal tax deposits must be made by electronic funds transfer. H&r block at home deluxe state 2012 download  You must use electronic funds transfer to make all federal tax deposits. H&r block at home deluxe state 2012 download Generally, electronic fund transfers are made using the Electronic Federal Tax Payment System (EFTPS). H&r block at home deluxe state 2012 download If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. H&r block at home deluxe state 2012 download Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. H&r block at home deluxe state 2012 download EFTPS is a free service provided by the Department of Treasury. H&r block at home deluxe state 2012 download Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. H&r block at home deluxe state 2012 download For more information on making federal tax deposits, see How To Deposit in Publication 15 (Circular E). H&r block at home deluxe state 2012 download To get more information about EFTPS or to enroll in EFTPS, visit www. H&r block at home deluxe state 2012 download eftps. H&r block at home deluxe state 2012 download gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). H&r block at home deluxe state 2012 download Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide To Getting Started. H&r block at home deluxe state 2012 download You must receive written notice from the IRS to file Form 944. H&r block at home deluxe state 2012 download  If you have been filing Forms 941, Employer's QUARTERLY Federal Tax Return (or Forms 941-SS, Employer's QUARTERLY Federal Tax Return—American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U. H&r block at home deluxe state 2012 download S. H&r block at home deluxe state 2012 download Virgin Islands, or Formularios 941-PR, Planilla para la Declaración Federal TRIMESTRAL del Patrono), and believe your employment taxes for the calendar year will be $1,000 or less, and you would like to file Form 944, Employer's ANNUAL Federal Tax Return, instead of Forms 941, you must contact the IRS to request to file Form 944. H&r block at home deluxe state 2012 download You must receive written notice from the IRS to file Form 944 instead of Forms 941 before you may file this form. H&r block at home deluxe state 2012 download For more information on requesting to file Form 944, visit IRS. H&r block at home deluxe state 2012 download gov and enter “file employment taxes annually” in the search box. H&r block at home deluxe state 2012 download Employers can request to file Forms 941 instead of Form 944. H&r block at home deluxe state 2012 download  If you received notice from the IRS and have been filing Form 944 but would like to file Forms 941 instead, you must contact the IRS to request to file Forms 941. H&r block at home deluxe state 2012 download You must receive written notice from the IRS to file Forms 941 instead of Form 944 before you may file these forms. H&r block at home deluxe state 2012 download For more information on requesting to file Form 944, visit IRS. H&r block at home deluxe state 2012 download gov and enter “file employment taxes annually” in the search box. H&r block at home deluxe state 2012 download Aggregate Form 941 filers. H&r block at home deluxe state 2012 download  Agents must complete Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers, when filing an aggregate Form 941. H&r block at home deluxe state 2012 download Aggregate Forms 941 can only be filed by agents approved by the IRS under section 3504 of the Internal Revenue Code. H&r block at home deluxe state 2012 download To request approval to act as an agent for an employer, the agent must file Form 2678, Employer/Payer Appointment of Agent, with the IRS. H&r block at home deluxe state 2012 download Aggregate Form 940 filers. H&r block at home deluxe state 2012 download  Agents must complete Schedule R (Form 940), Allocation Schedule for Aggregate Form 940 Filers, when filing an aggregate Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. H&r block at home deluxe state 2012 download Aggregate Forms 940 may only be filed by agents acting on behalf of home care service recipients who receive home care services through a program administered by a federal, state, or local government. H&r block at home deluxe state 2012 download To request approval to act as an agent on behalf of home care service recipients, the agent must file Form 2678 with the IRS. H&r block at home deluxe state 2012 download Electronic filing and payment. H&r block at home deluxe state 2012 download  Now, more than ever before, businesses can enjoy the benefits of filing and paying their federal taxes electronically. H&r block at home deluxe state 2012 download Whether you rely on a tax professional or handle your own taxes, the IRS offers you convenient programs to make filing and payment easier. H&r block at home deluxe state 2012 download Spend less time and worry about taxes and more time running your business. H&r block at home deluxe state 2012 download Use e-file and the Electronic Federal Tax Payment System (EFTPS) to your benefit. H&r block at home deluxe state 2012 download For e-file, visit www. H&r block at home deluxe state 2012 download irs. H&r block at home deluxe state 2012 download gov/efile for additional information. H&r block at home deluxe state 2012 download For EFTPS, visit www. H&r block at home deluxe state 2012 download eftps. H&r block at home deluxe state 2012 download gov or call EFTPS Customer Service at 1-800-555-4477 or 1-800-733-4829 (TDD). H&r block at home deluxe state 2012 download Electronic submission of Forms W-4, W-4P, W-4S and W-4V. H&r block at home deluxe state 2012 download  You may set up a system to electronically receive any or all of the following forms (and their Spanish versions, if available) from an employee or payee. H&r block at home deluxe state 2012 download Form W-4, Employee's Withholding Allowance Certificate. H&r block at home deluxe state 2012 download Form W-4P, Withholding Certificate for Pension or Annuity Payments. H&r block at home deluxe state 2012 download Form W-4S, Request for Federal Income Tax Withholding From Sick Pay. H&r block at home deluxe state 2012 download Form W-4V, Voluntary Withholding Request. H&r block at home deluxe state 2012 download For each form that you establish an electronic submission system for, you must meet each of the following five requirements. H&r block at home deluxe state 2012 download The electronic system must ensure that the information received by the payer is the information sent by the payee. H&r block at home deluxe state 2012 download The system must document all occasions of user access that result in a submission. H&r block at home deluxe state 2012 download In addition, the design and operation of the electronic system, including access procedures, must make it reasonably certain that the person accessing the system and submitting the form is the person identified on the form. H&r block at home deluxe state 2012 download The electronic system must provide exactly the same information as the paper form. H&r block at home deluxe state 2012 download The electronic submission must be signed with an electronic signature by the payee whose name is on the form. H&r block at home deluxe state 2012 download The electronic signature must be the final entry in the submission. H&r block at home deluxe state 2012 download Upon request, you must furnish a hard copy of any completed electronic form to the IRS and a statement that, to the best of the payer's knowledge, the electronic form was submitted by the named payee. H&r block at home deluxe state 2012 download The hard copy of the electronic form must provide exactly the same information as, but need not be a facsimile of, the paper form. H&r block at home deluxe state 2012 download For Form W-4, the signature must be under penalty of perjury, and must contain the same language that appears on the paper version of the form. H&r block at home deluxe state 2012 download The electronic system must inform the employee that he or she must make a declaration contained in the perjury statement and that the declaration is made by signing the Form W-4. H&r block at home deluxe state 2012 download You must also meet all recordkeeping requirements that apply to the paper forms. H&r block at home deluxe state 2012 download For more information, see: Regulations sections 31. H&r block at home deluxe state 2012 download 3402(f)(5)-1(c) (for Form W-4), and Announcement 99-6 (for Forms W-4P, W-4S, and W-4V). H&r block at home deluxe state 2012 download You can find Announcement 99-6 on page 24 of Internal Revenue Bulletin 1999-4 at www. H&r block at home deluxe state 2012 download irs. H&r block at home deluxe state 2012 download gov/pub/irs-irbs/irb99-04. H&r block at home deluxe state 2012 download pdf. H&r block at home deluxe state 2012 download Additional employment tax information. H&r block at home deluxe state 2012 download  Visit the IRS website at www. H&r block at home deluxe state 2012 download irs. H&r block at home deluxe state 2012 download gov/businesses and click on the Employment Taxes link under Businesses Topics. H&r block at home deluxe state 2012 download Telephone help. H&r block at home deluxe state 2012 download  You can call the IRS Business and Specialty Tax Line with your employment tax questions at 1-800-829-4933. H&r block at home deluxe state 2012 download Help for people with disabilities. H&r block at home deluxe state 2012 download  You may call 1-800-829-4059 (TDD/TTY for persons who are deaf, heard of hearing, or have a speech disability) with any tax question or to order forms and publications. H&r block at home deluxe state 2012 download You may also use this number for assistance with unresolved tax problems. H&r block at home deluxe state 2012 download Furnishing Form W-2 to employees electronically. H&r block at home deluxe state 2012 download  You may set up a system to furnish Form W-2, Wage and Tax Statement, electronically. H&r block at home deluxe state 2012 download Each employee participating must consent (either electronically or by paper document) to receive his or her Form W-2 electronically, and you must notify the employee of all hardware and software requirements to receive the form. H&r block at home deluxe state 2012 download You may not send a Form W-2 electronically to any employee who does not consent or who has revoked consent previously provided. H&r block at home deluxe state 2012 download To furnish Forms W-2 electronically, you must meet the following disclosure requirements and provide a clear and conspicuous statement of each requirement to your employees. H&r block at home deluxe state 2012 download The employee must be informed that he or she will receive a paper Form W-2 if consent is not given to receive it electronically. H&r block at home deluxe state 2012 download The employee must be informed of the scope and duration of the consent. H&r block at home deluxe state 2012 download The employee must be informed of any procedure for obtaining a paper copy of his or her Form W-2 and whether or not the request for a paper statement is treated as a withdrawal of his or her consent to receiving his or her Form W-2 electronically. H&r block at home deluxe state 2012 download The employee must be notified about how to withdraw a consent and the effective date and manner by which the employer will confirm the withdrawn consent. H&r block at home deluxe state 2012 download The employee must also be notified that the withdrawn consent does not apply to the previously issued Forms W-2. H&r block at home deluxe state 2012 download The employee must be informed about any conditions under which electronic Forms W-2 will no longer be furnished (for example, termination of employment). H&r block at home deluxe state 2012 download The employee must be informed of any procedures for updating his or her contact information that enables the employer to provide electronic Forms W-2. H&r block at home deluxe state 2012 download The employer must notify the employee of any changes to the employer's contact information. H&r block at home deluxe state 2012 download You must furnish electronic Forms W-2 by the same due date as the paper Forms W-2. H&r block at home deluxe state 2012 download For more information on furnishing Form W-2 to employees electronically, see Regulations section 31. H&r block at home deluxe state 2012 download 6051-1(j). H&r block at home deluxe state 2012 download Photographs of missing children. H&r block at home deluxe state 2012 download  The IRS is a proud partner with the National Center for Missing and Exploited Children. H&r block at home deluxe state 2012 download Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. H&r block at home deluxe state 2012 download You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. H&r block at home deluxe state 2012 download Introduction This publication supplements Publication 15 (Circular E). H&r block at home deluxe state 2012 download It contains specialized and detailed employment tax information supplementing the basic information provided in Publication 15 (Circular E). H&r block at home deluxe state 2012 download This publication also contains tables for withholding on distributions of Indian gaming profits to tribal members. H&r block at home deluxe state 2012 download Publication 15-B, Employer's Tax Guide to Fringe Benefits, contains information about the employment tax treatment of various types of noncash compensation. H&r block at home deluxe state 2012 download Ordering publications and forms. H&r block at home deluxe state 2012 download   See Ordering Employer Tax Forms and Publications in Publication 15 (Circular E) and How To Get Tax Help , later, for more information on how to obtain forms and publications. H&r block at home deluxe state 2012 download Useful Items - You may want to see: Publication 15-B Employer's Tax Guide to Fringe Benefits 505 Tax Withholding and Estimated Tax 515 Withholding of Tax on Nonresident Aliens and Foreign Entities 583 Starting a Business and Keeping Records 1635 Employer Identification Number: Understanding Your EIN Comments and suggestions. H&r block at home deluxe state 2012 download   We welcome your comments about this publication and your suggestions for future editions. H&r block at home deluxe state 2012 download    You can write to us at the following address: Internal Revenue Service Tax Forms & Publications Division 1111 Constitution Ave. H&r block at home deluxe state 2012 download NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. H&r block at home deluxe state 2012 download Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. H&r block at home deluxe state 2012 download   You can also send us comments from www. H&r block at home deluxe state 2012 download irs. H&r block at home deluxe state 2012 download gov/formspubs. H&r block at home deluxe state 2012 download Click on More Information and then click on Comment on Tax Forms and Publications. H&r block at home deluxe state 2012 download   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax forms, instructions, and publications. H&r block at home deluxe state 2012 download Prev  Up  Next   Home   More Online Publications
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The H&r Block At Home Deluxe State 2012 Download

H&r block at home deluxe state 2012 download 4. H&r block at home deluxe state 2012 download   Detailed Examples Table of Contents These examples use actual forms to help you prepare your income tax return. H&r block at home deluxe state 2012 download However, the information shown on the filled-in forms is not from any actual person or scenario. H&r block at home deluxe state 2012 download Example 1—Mortgage loan modification. H&r block at home deluxe state 2012 download    In 2007, Nancy Oak bought a main home for $435,000. H&r block at home deluxe state 2012 download Nancy took out a $420,000 mortgage loan to buy the home and made a down payment of $15,000. H&r block at home deluxe state 2012 download The loan was secured by the home. H&r block at home deluxe state 2012 download The mortgage loan was a recourse debt, meaning that Nancy was personally liable for the debt. H&r block at home deluxe state 2012 download In 2008, Nancy took out a second mortgage loan (also a recourse debt) in the amount of $30,000 that was used to substantially improve her kitchen. H&r block at home deluxe state 2012 download    In 2011, when the outstanding principal of the first and second mortgage loans was $440,000, Nancy refinanced the two recourse loans into one recourse loan in the amount of $475,000. H&r block at home deluxe state 2012 download The FMV of Nancy's home at the time of the refinancing was $500,000. H&r block at home deluxe state 2012 download Nancy used the additional $35,000 debt ($475,000 new mortgage loan minus $440,000 outstanding principal of Nancy's first and second mortgage loans immediately before the refinancing) to pay off personal credit cards and to pay college tuition for her son. H&r block at home deluxe state 2012 download After the refinancing, Nancy has qualified principal residence indebtedness in the amount of $440,000 because the refinanced debt is qualified principal residence indebtedness only to the extent the amount of debt is not more than the old mortgage principal just before the refinancing. H&r block at home deluxe state 2012 download   In 2013, Nancy was unable to make her mortgage loan payments. H&r block at home deluxe state 2012 download On August 31, 2013, when the outstanding balance of her refinanced mortgage loan was still $475,000 and the FMV of the property was $425,000, Nancy's bank agreed to a loan modification (a “workout”) that resulted in a $40,000 reduction in the principal balance of her loan. H&r block at home deluxe state 2012 download Nancy was neither insolvent nor in bankruptcy at the time of the loan modification. H&r block at home deluxe state 2012 download   Nancy received a 2013 Form 1099-C from her bank in January 2014 showing canceled debt of $40,000 in box 2. H&r block at home deluxe state 2012 download Identifiable event code "F" appears in box 6. H&r block at home deluxe state 2012 download This box shows the reason the creditor has filed Form 1099-C. H&r block at home deluxe state 2012 download To determine if she must include the canceled debt in her income, Nancy must determine whether she meets any of the exceptions or exclusions that apply to canceled debts. H&r block at home deluxe state 2012 download Nancy determines that the only exception or exclusion that applies to her is the qualified principal residence indebtedness exclusion. H&r block at home deluxe state 2012 download   Next, Nancy determines the amount, if any, of the $40,000 of canceled debt that was qualified principal residence indebtedness. H&r block at home deluxe state 2012 download Although Nancy has $440,000 of qualified principal residence indebtedness, part of her loan ($35,000) was not qualified principal residence indebtedness because it was used to pay off personal credit cards and college tuition for her son. H&r block at home deluxe state 2012 download Applying the ordering rule, the qualified principal residence indebtedness exclusion applies only to the extent the amount canceled is more than the amount of the debt (immediately before the cancellation) that is not qualified principal residence indebtedness. H&r block at home deluxe state 2012 download Thus, Nancy can exclude only $5,000 of the canceled debt as qualified principal residence indebtedness ($40,000 amount canceled minus $35,000 nonqualified debt). H&r block at home deluxe state 2012 download   Because Nancy does not meet any other exception or exclusion, she checks only the box on line 1e of Form 982 and enters $5,000 on line 2. H&r block at home deluxe state 2012 download Nancy must also enter $5,000 on line 10b and reduce the basis of her main home by the $5,000 she excluded from income, bringing the adjusted basis in her home to $460,000 ($435,000 purchase price plus $30,000 substantial improvement minus $5,000). H&r block at home deluxe state 2012 download Nancy must also include the $35,000 nonqualified debt portion in income on Form 1040, line 21. H&r block at home deluxe state 2012 download You can see Nancy's Form 1099-C and a portion of her Form 1040 below. H&r block at home deluxe state 2012 download Nancy's 2013 Form 1099-C, Cancellation of Debt This image is too large to be displayed in the current screen. H&r block at home deluxe state 2012 download Please click the link to view the image. H&r block at home deluxe state 2012 download Form 1099-C, Cancellation of Debt Nancy's 2013 Form 1040 This image is too large to be displayed in the current screen. H&r block at home deluxe state 2012 download Please click the link to view the image. H&r block at home deluxe state 2012 download Form 1040, U. H&r block at home deluxe state 2012 download S. H&r block at home deluxe state 2012 download Individual Income Tax Nancy's Form 982 This image is too large to be displayed in the current screen. H&r block at home deluxe state 2012 download Please click the link to view the image. H&r block at home deluxe state 2012 download Form 982 Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)              Example 2—Mortgage loan foreclosure. H&r block at home deluxe state 2012 download    In 2005, John and Mary Elm bought a main home for $335,000. H&r block at home deluxe state 2012 download John and Mary took out a $320,000 mortgage loan to buy the home and made a down payment of $15,000. H&r block at home deluxe state 2012 download The loan was secured by the home and is a recourse debt, meaning John and Mary are personally liable for the debt. H&r block at home deluxe state 2012 download   John and Mary became unable to make their mortgage loan payments and on March 1, 2013, when the outstanding balance of the mortgage loan was $315,000 and the FMV of the property was $290,000, the bank foreclosed on the property and simultaneously canceled the remaining mortgage debt. H&r block at home deluxe state 2012 download Immediately before the foreclosure, John and Mary's only other assets and liabilities were a checking account with a balance of $6,000, retirement savings of $13,000, and credit card debt of $5,500. H&r block at home deluxe state 2012 download   John and Mary received a 2013 Form 1099-C showing canceled debt of $25,000 in box 2 ($315,000 outstanding balance minus $290,000 FMV) and an FMV of $290,000 in box 7. H&r block at home deluxe state 2012 download Identifiable event code "D" appears in box 6. H&r block at home deluxe state 2012 download This box shows the reason the creditor has filed Form 1099-C. H&r block at home deluxe state 2012 download In order to determine if John and Mary must include the canceled debt in income, they must first determine whether they meet any of the exceptions or exclusions that apply to canceled debts. H&r block at home deluxe state 2012 download In this example, John and Mary meet both the insolvency and qualified principal residence indebtedness exclusions. H&r block at home deluxe state 2012 download Their sample Form 1099-C is shown on this page. H&r block at home deluxe state 2012 download   John and Mary complete the insolvency worksheet and determine that they were insolvent immediately before the cancellation because at that time their liabilities exceeded the FMV of their assets by $11,500 ($320,500 total liabilities minus $309,000 FMV of total assets). H&r block at home deluxe state 2012 download However, because the entire debt canceled is qualified principal residence indebtedness, the insolvency exclusion only applies if John and Mary elect to apply the insolvency exclusion instead of the qualified principal residence exclusion. H&r block at home deluxe state 2012 download   John and Mary do not elect to apply the insolvency exclusion instead of the qualified principal residence exclusion because under the insolvency exclusion their exclusion would be limited to the amount by which they were insolvent ($11,500). H&r block at home deluxe state 2012 download Instead, John and Mary check box 1e of Form 982 to exclude the canceled debt under the qualified principal residence exclusion. H&r block at home deluxe state 2012 download Under the qualified principal residence exclusion, the amount that John and Mary can exclude is not limited because their qualified principal residence indebtedness is not more than $2 million and no portion of the loan was nonqualified debt. H&r block at home deluxe state 2012 download As a result, John and Mary enter the full $25,000 of canceled debt on line 2 of Form 982. H&r block at home deluxe state 2012 download Because John and Mary no longer own the home due to the foreclosure, John and Mary have no remaining basis in the home at the time of the debt cancellation. H&r block at home deluxe state 2012 download Thus, John and Mary leave line 10b of Form 982 blank. H&r block at home deluxe state 2012 download   John and Mary must also determine whether they have a gain or loss from the foreclosure. H&r block at home deluxe state 2012 download John and Mary complete Table 1-1 (shown below) and find that they have a $45,000 loss from the foreclosure. H&r block at home deluxe state 2012 download Because this loss relates to their home, it is a nondeductible loss. H&r block at home deluxe state 2012 download   John and Mary's Form 1099-C, Insolvency Worksheet, and Form 982 follow. H&r block at home deluxe state 2012 download John and Mary's 2013 Form 1099-C, Cancellation of Debt This image is too large to be displayed in the current screen. H&r block at home deluxe state 2012 download Please click the link to view the image. H&r block at home deluxe state 2012 download Form 1099-C, Cancellation of Debt Table 1-1. H&r block at home deluxe state 2012 download Worksheet for Foreclosures and Repossessions (for John and Mary Elm) Part 1. H&r block at home deluxe state 2012 download Complete Part 1 only if you were personally liable for the debt (even if none of the debt was canceled). H&r block at home deluxe state 2012 download Otherwise, go to Part 2. H&r block at home deluxe state 2012 download 1. H&r block at home deluxe state 2012 download Enter the amount of outstanding debt immediately before the transfer of property reduced by any amount for which you remain personally liable immediately after the transfer of property $315,000. H&r block at home deluxe state 2012 download 00 2. H&r block at home deluxe state 2012 download Enter the fair market value of the transferred property $290,000. H&r block at home deluxe state 2012 download 00 3. H&r block at home deluxe state 2012 download Ordinary income from the cancellation of debt upon foreclosure or repossession. H&r block at home deluxe state 2012 download * Subtract line 2 from line 1. H&r block at home deluxe state 2012 download If less than zero, enter zero. H&r block at home deluxe state 2012 download Next, go to Part 2 $ 25,000. H&r block at home deluxe state 2012 download 00 Part 2. H&r block at home deluxe state 2012 download Gain or loss from foreclosure or repossession. H&r block at home deluxe state 2012 download   4. H&r block at home deluxe state 2012 download Enter the smaller of line 1 or line 2. H&r block at home deluxe state 2012 download If you did not complete Part 1 (because you were not personally liable for the debt), enter the amount of outstanding debt immediately before the transfer of property $290,000. H&r block at home deluxe state 2012 download 00 5. H&r block at home deluxe state 2012 download Enter any proceeds you received from the foreclosure sale   6. H&r block at home deluxe state 2012 download Add line 4 and line 5 $290,000. H&r block at home deluxe state 2012 download 00 7. H&r block at home deluxe state 2012 download Enter the adjusted basis of the transferred property $335,000. H&r block at home deluxe state 2012 download 00 8. H&r block at home deluxe state 2012 download Gain or loss from foreclosure or repossession. H&r block at home deluxe state 2012 download Subtract line 7 from line 6 ($ 45,000. H&r block at home deluxe state 2012 download 00) * The income may not be taxable. H&r block at home deluxe state 2012 download See chapter 1 for more details. H&r block at home deluxe state 2012 download Insolvency Worksheet—John and Mary Elm Date debt was canceled (mm/dd/yy) 03/01/13 Part I. H&r block at home deluxe state 2012 download Total liabilities immediately before the cancellation (do not include the same liability in more than one category) Liabilities (debts) Amount Owed Immediately Before the Cancellation 1. H&r block at home deluxe state 2012 download Credit card debt $ 5,500 2. H&r block at home deluxe state 2012 download Mortgage(s) on real property (including first and second mortgages and home equity loans) (mortgage(s) can be on personal residence, any additional residence, or property held for investment or used in a trade or business) $ 315,000 3. H&r block at home deluxe state 2012 download Car and other vehicle loans $ 4. H&r block at home deluxe state 2012 download Medical bills owed $ 5. H&r block at home deluxe state 2012 download Student loans $ 6. H&r block at home deluxe state 2012 download Accrued or past-due mortgage interest $ 7. H&r block at home deluxe state 2012 download Accrued or past-due real estate taxes $ 8. H&r block at home deluxe state 2012 download Accrued or past-due utilities (water, gas, electric) $ 9. H&r block at home deluxe state 2012 download Accrued or past-due child care costs $ 10. H&r block at home deluxe state 2012 download Federal or state income taxes remaining due (for prior tax years) $ 11. H&r block at home deluxe state 2012 download Judgments $ 12. H&r block at home deluxe state 2012 download Business debts (including those owed as a sole proprietor or partner) $ 13. H&r block at home deluxe state 2012 download Margin debt on stocks and other debt to purchase or secured by investment assets other than real property $ 14. H&r block at home deluxe state 2012 download Other liabilities (debts) not included above $ 15. H&r block at home deluxe state 2012 download Total liabilities immediately before the cancellation. H&r block at home deluxe state 2012 download Add lines 1 through 14. H&r block at home deluxe state 2012 download $ 320,500 Part II. H&r block at home deluxe state 2012 download Fair market value (FMV) of assets owned immediately before the cancellation (do not include the FMV of the same asset in more than one category) Assets FMV Immediately Before  the Cancellation 16. H&r block at home deluxe state 2012 download Cash and bank account balances $ 6,000 17. H&r block at home deluxe state 2012 download Real property, including the value of land (can be main home, any additional home, or property held for investment or used in a trade or business) $ 290,000 18. H&r block at home deluxe state 2012 download Cars and other vehicles $ 19. H&r block at home deluxe state 2012 download Computers $ 20. H&r block at home deluxe state 2012 download Household goods and furnishings (for example, appliances, electronics, furniture, etc. H&r block at home deluxe state 2012 download ) $ 21. H&r block at home deluxe state 2012 download Tools $ 22. H&r block at home deluxe state 2012 download Jewelry $ 23. H&r block at home deluxe state 2012 download Clothing $ 24. H&r block at home deluxe state 2012 download Books $ 25. H&r block at home deluxe state 2012 download Stocks and bonds $ 26. H&r block at home deluxe state 2012 download Investments in coins, stamps, paintings, or other collectibles $ 27. H&r block at home deluxe state 2012 download Firearms, sports, photographic, and other hobby equipment $ 28. H&r block at home deluxe state 2012 download Interest in retirement accounts (IRA accounts, 401(k) accounts, and other retirement accounts) $ 13,000 29. H&r block at home deluxe state 2012 download Interest in a pension plan $ 30. H&r block at home deluxe state 2012 download Interest in education accounts $ 31. H&r block at home deluxe state 2012 download Cash value of life insurance $ 32. H&r block at home deluxe state 2012 download Security deposits with landlords, utilities, and others $ 33. H&r block at home deluxe state 2012 download Interests in partnerships $ 34. H&r block at home deluxe state 2012 download Value of investment in a business $ 35. H&r block at home deluxe state 2012 download Other investments (for example, annuity contracts, guaranteed investment contracts, mutual funds, commodity accounts, interests in hedge funds, and options) $ 36. H&r block at home deluxe state 2012 download Other assets not included above $ 37. H&r block at home deluxe state 2012 download FMV of total assets immediately before the cancellation. H&r block at home deluxe state 2012 download Add lines 16 through 36. H&r block at home deluxe state 2012 download $ 309,000 Part III. H&r block at home deluxe state 2012 download Insolvency 38. H&r block at home deluxe state 2012 download Amount of Insolvency. H&r block at home deluxe state 2012 download Subtract line 37 from line 15. H&r block at home deluxe state 2012 download If zero or less, you are not insolvent. H&r block at home deluxe state 2012 download $ 11,500 John and Mary's Form 982 This image is too large to be displayed in the current screen. H&r block at home deluxe state 2012 download Please click the link to view the image. H&r block at home deluxe state 2012 download Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)          Example 3—Mortgage loan foreclosure with debt exceeding $2 million limit. H&r block at home deluxe state 2012 download    In 2011, Kathy and Frank Willow got married and entered into a contract with Hive Construction Corporation to build a house for $3,000,000 to be used as their main home. H&r block at home deluxe state 2012 download Kathy and Frank made a $400,000 down payment and took out a $2,600,000 mortgage to finance the remaining cost of the house. H&r block at home deluxe state 2012 download Kathy and Frank are personally liable for the mortgage loan, which is secured by the home. H&r block at home deluxe state 2012 download   In November 2013, when the outstanding principal balance on the mortgage loan was $2,500,000, the FMV of the property fell to $1,750,000 and Kathy and Frank abandoned the property by permanently moving out. H&r block at home deluxe state 2012 download The lender foreclosed on the property and, on December 5, 2013, sold the property to another buyer for $1,750,000. H&r block at home deluxe state 2012 download On December 26, 2013, the lender canceled the remaining debt. H&r block at home deluxe state 2012 download Kathy and Frank have no tax attributes other than basis of personal-use property. H&r block at home deluxe state 2012 download   The lender issued a 2013 Form 1099-C to Kathy and Frank showing canceled debt of $750,000 in box 2 (the remaining balance on the $2,500,000 mortgage debt after application of the foreclosure sale proceeds) and $1,750,000 in box 7 (FMV of the property). H&r block at home deluxe state 2012 download Identifiable event code "D" appears in box 6. H&r block at home deluxe state 2012 download This box shows the reason the creditor has filed Form 1099-C. H&r block at home deluxe state 2012 download Although Kathy and Frank abandoned the property, the lender did not need to also file a Form 1099-A because the lender canceled the debt in connection with the foreclosure in the same calendar year. H&r block at home deluxe state 2012 download Kathy and Frank are filing a joint return for 2013. H&r block at home deluxe state 2012 download   Because the foreclosure occurred prior to the debt cancellation, Kathy and Frank first calculate their gain or loss from the foreclosure using Table 1-1. H&r block at home deluxe state 2012 download Because Kathy and Frank remained personally liable for the $750,000 debt remaining after the foreclosure ($2,500,000 outstanding debt immediately before the foreclosure minus $1,750,000 satisfied through the sale of the home), Kathy and Frank enter $1,750,000 on line 1 of Table 1-1 ($2,500,000 outstanding debt immediately before the foreclosure minus the $750,000 for which they remained liable). H&r block at home deluxe state 2012 download Completing Table 1-1, Kathy and Frank find that they have no ordinary income from the cancellation of debt upon foreclosure and that they have a $1,250,000 loss. H&r block at home deluxe state 2012 download Because this loss relates to their home, it is a nondeductible loss. H&r block at home deluxe state 2012 download   Because the lender later canceled the remaining amount of the debt, Kathy and Frank must also determine whether that canceled debt is taxable. H&r block at home deluxe state 2012 download Immediately before the cancellation, Kathy and Frank had $15,000 in a savings account, household furnishings with an FMV of $17,000, a car with an FMV of $10,000, and $18,000 in credit card debt. H&r block at home deluxe state 2012 download Kathy and Frank also had the $750,000 remaining balance on the mortgage loan at that time. H&r block at home deluxe state 2012 download The household furnishings originally cost $30,000. H&r block at home deluxe state 2012 download The car had been fully paid off (so there was no related outstanding debt) and was originally purchased for $16,000. H&r block at home deluxe state 2012 download Kathy and Frank had no adjustments to the cost basis of the car. H&r block at home deluxe state 2012 download Kathy and Frank had no other assets or liabilities at the time of the cancellation. H&r block at home deluxe state 2012 download Kathy and Frank complete the insolvency worksheet to calculate that they were insolvent to the extent of $726,000 immediately before the cancellation ($768,000 of total liabilities minus $42,000 FMV of total assets). H&r block at home deluxe state 2012 download   At the beginning of 2014, Kathy and Frank had $9,000 in their savings account and $15,000 in credit card debt. H&r block at home deluxe state 2012 download Kathy and Frank also owned the same car at that time (still with an FMV of $10,000 and basis of $16,000) and the same household furnishings (still with an FMV of $17,000 and a basis of $30,000). H&r block at home deluxe state 2012 download Kathy and Frank had no other assets or liabilities at that time. H&r block at home deluxe state 2012 download Kathy and Frank no longer own the home because the lender foreclosed on it in 2013. H&r block at home deluxe state 2012 download   Because the canceled debt is qualified principal residence indebtedness, the insolvency exclusion does not apply unless Kathy and Frank elect to apply the insolvency exclusion instead of the qualified principal residence indebtedness exclusion. H&r block at home deluxe state 2012 download The maximum amount that Kathy and Frank can treat as qualified principal residence indebtedness is $2,000,000. H&r block at home deluxe state 2012 download The remaining $500,000 ($2,500,000 outstanding mortgage loan minus $2,000,000 limit on qualified principal residence indebtedness) is not qualified principal residence indebtedness. H&r block at home deluxe state 2012 download Because only a part of the loan is qualified principal residence indebtedness, Kathy and Frank must apply the ordering rule to the canceled debt. H&r block at home deluxe state 2012 download Under the ordering rule, the qualified principal residence indebtedness exclusion applies only to the extent that the amount canceled ($750,000) exceeds the amount of the loan (immediately before the cancellation) that is not qualified principal residence indebtedness ($500,000). H&r block at home deluxe state 2012 download This means that Kathy and Frank can only exclude $250,000 ($750,000 amount canceled minus $500,000 nonqualified debt) under the qualified principal residence indebtedness exclusion. H&r block at home deluxe state 2012 download   Kathy and Frank do not elect to have the insolvency exclusion apply instead of the qualified principal residence exclusion. H&r block at home deluxe state 2012 download Nonetheless, they can still apply the insolvency exclusion to the $500,000 nonqualified debt because it is not qualified principal residence indebtedness. H&r block at home deluxe state 2012 download Kathy and Frank can exclude the remaining $500,000 canceled debt under the insolvency exclusion because they were insolvent immediately before the cancellation to the extent of $726,000. H&r block at home deluxe state 2012 download Thus, Kathy and Frank check the boxes on lines 1b and 1e of Form 982 and enter $750,000 on line 2 ($250,000 excluded under the qualified principal residence indebtedness exclusion plus $500,000 excluded under the insolvency exclusion). H&r block at home deluxe state 2012 download   Next, Kathy and Frank reduce their tax attributes using Part II of Form 982. H&r block at home deluxe state 2012 download Because Kathy and Frank no longer own the home due to the foreclosure, Kathy and Frank have no remaining basis in the home at the time of the debt cancellation. H&r block at home deluxe state 2012 download Thus, Kathy and Frank leave line 10b of Form 982 blank. H&r block at home deluxe state 2012 download However, Kathy and Frank are also excluding nonqualified debt under the insolvency exclusion. H&r block at home deluxe state 2012 download As a result, Kathy and Frank must reduce the basis of property they own based on the amount of canceled debt they are excluding from income under the insolvency rules. H&r block at home deluxe state 2012 download Because Kathy and Frank have no tax attributes other than basis of personal-use property to reduce, Kathy and Frank figure the amount they must include on line 10a of Form 982 by taking the smallest of: The $46,000 bases of their personal-use property held at the beginning of 2014 ($16,000 basis in the car plus $30,000 basis in household furnishings), The $500,000 of the nonbusiness debt (other than qualified principal residence indebtedness) that they are excluding from income on line 2 of Form 982, or The $43,000 excess of the total bases of the property and the amount of money they held immediately after the cancellation over their total liabilities immediately after the cancellation ($15,000 in savings account plus $30,000 basis in household furnishings plus $16,000 adjusted basis in car minus $18,000 credit card debt). H&r block at home deluxe state 2012 download Kathy and Frank enter $43,000 on Form 982, line 10a and reduce their bases in the car and the household furnishings in proportion to the total adjusted bases in all their property. H&r block at home deluxe state 2012 download Kathy and Frank reduce the basis in the car by $14,956. H&r block at home deluxe state 2012 download 52 ($43,000 x $16,000/$46,000). H&r block at home deluxe state 2012 download And they reduce the basis in the household furnishings by $28,043. H&r block at home deluxe state 2012 download 48 ($43,000 x $30,000/$46,000). H&r block at home deluxe state 2012 download   Following are Kathy and Frank's sample forms and worksheets. H&r block at home deluxe state 2012 download Frank and Kathy's 2013 Form 1099-C, Cancellation of Debt This image is too large to be displayed in the current screen. H&r block at home deluxe state 2012 download Please click the link to view the image. H&r block at home deluxe state 2012 download Form 1099-C, Cancellation of Debt Table 1-1. H&r block at home deluxe state 2012 download Worksheet for Foreclosures and Repossessions (for Frank and Kathy Willow) Part 1. H&r block at home deluxe state 2012 download Complete Part 1 only if you were personally liable for the debt (even if none of the debt was canceled). H&r block at home deluxe state 2012 download Otherwise, go to Part 2. H&r block at home deluxe state 2012 download 1. H&r block at home deluxe state 2012 download Enter the amount of outstanding debt immediately before the transfer of property reduced by any amount for which you remain personally liable immediately after the transfer of property $1,750,000. H&r block at home deluxe state 2012 download 00 2. H&r block at home deluxe state 2012 download Enter the fair market value of the transferred property $1,750,000. H&r block at home deluxe state 2012 download 00 3. H&r block at home deluxe state 2012 download Ordinary income from the cancellation of debt upon foreclosure or repossession. H&r block at home deluxe state 2012 download * Subtract line 2 from line 1. H&r block at home deluxe state 2012 download If less than zero, enter zero. H&r block at home deluxe state 2012 download Next, go to Part 2 $0. H&r block at home deluxe state 2012 download 00 Part 2. H&r block at home deluxe state 2012 download Gain or loss from foreclosure or repossession. H&r block at home deluxe state 2012 download   4. H&r block at home deluxe state 2012 download Enter the smaller of line 1 or line 2. H&r block at home deluxe state 2012 download If you did not complete Part 1 (because you were not personally liable for the debt), enter the amount of outstanding debt immediately before the transfer of property. H&r block at home deluxe state 2012 download $1,750,000. H&r block at home deluxe state 2012 download 00 5. H&r block at home deluxe state 2012 download Enter any proceeds you received from the foreclosure sale   6. H&r block at home deluxe state 2012 download Add line 4 and line 5 $1,750,000. H&r block at home deluxe state 2012 download 00 7. H&r block at home deluxe state 2012 download Enter the adjusted basis of the transferred property $3,000,000. H&r block at home deluxe state 2012 download 00 8. H&r block at home deluxe state 2012 download Gain or loss from foreclosure or repossession. H&r block at home deluxe state 2012 download Subtract line 7 from line 6 ($1,250,000. H&r block at home deluxe state 2012 download 00) * The income may not be taxable. H&r block at home deluxe state 2012 download See chapter 1 for more details. H&r block at home deluxe state 2012 download    Insolvency Worksheet—Frank and Kathy Willow Date debt was canceled (mm/dd/yy) 12/26/13 Part I. H&r block at home deluxe state 2012 download Total liabilities immediately before the cancellation (do not include the same liability in more than one category) Liabilities (debts) Amount Owed Immediately Before the Cancellation 1. H&r block at home deluxe state 2012 download Credit card debt $ 18,000 2. H&r block at home deluxe state 2012 download Mortgage(s) on real property (including first and second mortgages and home equity loans) (mortgage(s) can be on personal residence, any additional residence, or property held for investment or used in a trade or business) $ 750,000 3. H&r block at home deluxe state 2012 download Car and other vehicle loans $ 4. H&r block at home deluxe state 2012 download Medical bills owed $ 5. H&r block at home deluxe state 2012 download Student loans $ 6. H&r block at home deluxe state 2012 download Accrued or past-due mortgage interest $ 7. H&r block at home deluxe state 2012 download Accrued or past-due real estate taxes $ 8. H&r block at home deluxe state 2012 download Accrued or past-due utilities (water, gas, electric) $ 9. H&r block at home deluxe state 2012 download Accrued or past-due child care costs $ 10. H&r block at home deluxe state 2012 download Federal or state income taxes remaining due (for prior tax years) $ 11. H&r block at home deluxe state 2012 download Judgments $ 12. H&r block at home deluxe state 2012 download Business debts (including those owed as a sole proprietor or partner) $ 13. H&r block at home deluxe state 2012 download Margin debt on stocks and other debt to purchase or secured by investment assets other than real property $ 14. H&r block at home deluxe state 2012 download Other liabilities (debts) not included above $ 15. H&r block at home deluxe state 2012 download Total liabilities immediately before the cancellation. H&r block at home deluxe state 2012 download Add lines 1 through 14. H&r block at home deluxe state 2012 download $ 768,000 Part II. H&r block at home deluxe state 2012 download Fair market value (FMV) of assets owned immediately before the cancellation (do not include the FMV of the same asset in more than one category) Assets FMV Immediately Before  the Cancellation 16. H&r block at home deluxe state 2012 download Cash and bank account balances $ 15,000 17. H&r block at home deluxe state 2012 download Real property, including the value of land (can be main home, any additional home, or property held for investment or used in a trade or business) $ 18. H&r block at home deluxe state 2012 download Cars and other vehicles $ 10,000 19. H&r block at home deluxe state 2012 download Computers $ 20. H&r block at home deluxe state 2012 download Household goods and furnishings (for example, appliances, electronics, furniture, etc. H&r block at home deluxe state 2012 download ) $ 17,000 21. H&r block at home deluxe state 2012 download Tools $ 22. H&r block at home deluxe state 2012 download Jewelry $ 23. H&r block at home deluxe state 2012 download Clothing $ 24. H&r block at home deluxe state 2012 download Books $ 25. H&r block at home deluxe state 2012 download Stocks and bonds $ 26. H&r block at home deluxe state 2012 download Investments in coins, stamps, paintings, or other collectibles $ 27. H&r block at home deluxe state 2012 download Firearms, sports, photographic, and other hobby equipment $ 28. H&r block at home deluxe state 2012 download Interest in retirement accounts (IRA accounts, 401(k) accounts, and other retirement accounts) $ 29. H&r block at home deluxe state 2012 download Interest in a pension plan $ 30. H&r block at home deluxe state 2012 download Interest in education accounts $ 31. H&r block at home deluxe state 2012 download Cash value of life insurance $ 32. H&r block at home deluxe state 2012 download Security deposits with landlords, utilities, and others $ 33. H&r block at home deluxe state 2012 download Interests in partnerships $ 34. H&r block at home deluxe state 2012 download Value of investment in a business $ 35. H&r block at home deluxe state 2012 download Other investments (for example, annuity contracts, guaranteed investment contracts, mutual funds, commodity accounts, interests in hedge funds, and options) $ 36. H&r block at home deluxe state 2012 download Other assets not included above $ 37. H&r block at home deluxe state 2012 download FMV of total assets immediately before the cancellation. H&r block at home deluxe state 2012 download Add lines 16 through 36. H&r block at home deluxe state 2012 download $ 42,000 Part III. H&r block at home deluxe state 2012 download Insolvency 38. H&r block at home deluxe state 2012 download Amount of Insolvency. H&r block at home deluxe state 2012 download Subtract line 37 from line 15. H&r block at home deluxe state 2012 download If zero or less, you are not insolvent. H&r block at home deluxe state 2012 download $ 726,000    Frank and Kathy's Form 982 This image is too large to be displayed in the current screen. H&r block at home deluxe state 2012 download Please click the link to view the image. H&r block at home deluxe state 2012 download Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) Prev  Up  Next   Home   More Online Publications