Form 982 2017

For Paperwork Reduction Act Notice see separate instructions. Cat. No. 17066E Form 982 Rev. 12-2017. Form Rev* December 2017 Department of the Treasury Internal Revenue Service Reduction of Tax Attributes Due to Discharge of Indebtedness and Section 1082 Basis Adjustment Attach this form to your income tax return* Go to www*irs*gov/Form982 for instructions and the latest information* a b c d e Attachment Sequence No* 94 Identifying number Name shown on return Part I OMB No* 1545-0046 General Information see instructions Amount excluded is due to check applicable box es Discharge of indebtedness in a title 11 case. Discharge of qualified farm indebtedness. was discharged after 2016. instructions. before checking this box Total amount of discharged indebtedness excluded from gross income. Do you elect to treat all real property described in section 1221 a 1 relating to property held for sale to customers in the ordinary course of a trade or business as if it were depreciable property. Applied to reduce any general business credit carryover to or from the tax year of the discharge. tax year of the discharge. carryovers to the tax year of the discharge. 10a Applied to reduce the basis of nondepreciable and depreciable property if not reduced on line 5. DO NOT use in the case of discharge of qualified farm indebtedness. checked. Yes No basis under section 1017. See Regulations section 1. 1017-1 for basis reduction ordering rules and if applicable required partnership consent statements. For additional information see the instructions for Part II. Enter amount excluded from gross income For a discharge of qualified real property business indebtedness applied to reduce the basis of depreciable real property. That you elect under section 108 b 5 to apply first to reduce the basis under section 1017 of depreciable property. over to the tax year of the discharge. if debt not reduced on line 5. b Land used or held for use in a trade or business of farming 10a 10b 11a. 11b Other property used or held for use in a trade or business or for the production of income. 11c Consent of Corporation to Adjustment of Basis of Its Property Under Section 1082 a 2 Under section 1081 b the corporation named above has excluded from its gross income and ending for the tax year beginning Under that section the corporation consents to have the basis of its property adjusted in accordance with the regulations prescribed of State of incorporation Note You must attach a description of the transactions resulting in the nonrecognition of gain under section 1081. Form Rev* December 2017 Department of the Treasury Internal Revenue Service Reduction of Tax Attributes Due to Discharge of Indebtedness and Section 1082 Basis Adjustment Attach this form to your income tax return* Go to www*irs*gov/Form982 for instructions and the latest information* a b c d e Attachment Sequence No* 94 Identifying number Name shown on return Part I OMB No* 1545-0046 General Information see instructions Amount excluded is due to check applicable box es Discharge of indebtedness in a title 11 case. Discharge of qualified farm indebtedness. was discharged after 2016. instructions. before checking this box Total amount of discharged indebtedness excluded from gross income.