# Form 982

URL: https://pdf.net/pdf-forms/tax-forms/form-982
Category: Tax Forms
Attributes: Official IRS form, Monthly top‑searched

IRS Form 982 is used to exclude canceled debt from taxable income under Section 108 and apply required reductions to certain tax attributes.

Fill out Form 982 online in minutes with our editor. Just enter the required details and download the form.

## Versions

- 2018 — [download PDF](https://cdn.sanity.io/files/i16te7yp/production/4a4e1093b2e870f91a1672da61300fa644fd889e.pdf)

## How to Fill Out a Form 982

1. Open the editable Form 982.
2. Enter your identifying information.
3. Select the correct exclusion (Lines 1a - 1e) according to Form 982 instructions.
4. Enter the excluded amount on line 2.
5. Complete Part II and apply basis reductions if required.
6. Attach IRS Form 982 to your tax return.

## Facts

### What Is a Form 982 Used For?

Form 982 is used to **exclude canceled, forgiven, or discharged debt from taxable income** and to reduce certain tax attributes. Even though canceled debt is generally taxable, IRS Form 982 applies for exclusions under specific IRC Section 108 cases, such as bankruptcy, insolvency, or principal residence indebtedness.

### Who Should Use a Form 982?

Any taxpayer who excludes discharged debt from taxable income due to **qualifying circumstances** like bankruptcy, insolvency, principal residence indebtedness, or certain farm or business debts should use Form 982.

### When Is a Form 982 Due?

Form 982 is **due along with your federal income tax return** for the year in which the discharged debt is excluded from taxable income. It is attached to your applicable income tax return, such as Form 1040 or 1040-SR for individuals, Form 1120 for corporations, Form 1041 for estates and trusts, or Form 1065 for partnerships. Filing deadlines follow your regular tax return due date, including extensions.

### What Happens If a Form 982 Is Not Submitted?

If Form 982 is not submitted on time, **the IRS may treat the discharged debt as taxable income. **This can increase your reported income and may result in additional tax, interest, or penalties.

### How and Where Do I File a Form 982?

You file Form 982 **with your federal income tax return and submit it to the IRS** either electronically or by mail, depending on your filing method.

## Related forms

- [1040 Form](https://pdf.net/pdf-forms/tax-forms/1040-form)
- [Form 1040-X](https://pdf.net/pdf-forms/tax-forms/form-1040-x)
- [Schedule C (Form 1040)](https://pdf.net/pdf-forms/tax-forms/schedule-c-form-1040)
- [Schedule E (Form 1040)](https://pdf.net/pdf-forms/tax-forms/schedule-e-form-1040)
- [Form 1065](https://pdf.net/pdf-forms/tax-forms/form-1065)