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So I short sold my house last year for $255k (I owed $330). Now I received 1099 for the $255k. However I know I qualify for the The Mortgage Forgiveness Debt Relief Act of 2007 and I know I have to fill out form 982.

Does anyone which parts of 982 I need to fill out? Also, what do I put in line 3? My guess would be I need to...
1) check 'e',
2) put $255k in #2
3) check no in #3

Is that it?

jameshogg · Posted: Fri Feb 11, 2011 10:32 pm Post subject:

Hi jamesfcy,

It will be better to contact a tax adviser and take his help in filling out the 982 form.

Thanks

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