Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Insolvency on 1041
Insolvency on 1041
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
carolsawaya858
Level 2
02-18-2023
02:53 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Client passed away and has credit card COD's in social security number in the year following her death.
I showed the COD as other income, but is there an insolvency form 982 on the 1041?
Not sure how to show insolvency on 1041.
Labels
3 Comments 3
carolsawaya858
Level 2
02-18-2023
03:36 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Sale of stock, schedule D. No Capital gains, but required to be reported.
BobKamman
Level 15
02-18-2023
03:44 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Well, no, that's a common misconception, "gross income" is not the same as "gross proceeds." So maybe you're still under $600. Were the proceeds used to pay the debt? Should they have been?
