Insolvency Calculator for 1099-C. Updated for 2014!
Just $29.00 And You Can Quickly Complete Your Form 982
What Our Insolvency Calculator Does for You.
Save Time and Frustration with the Insolvency Calculator for 1099-C Income from Canceled Debts
* Fill in tax Form 982 quickly and easily with help from this amazing calculator
* Gives you total taxable income (if any) and total reduction of tax attributes
* A complete solution, you can calculate insolvency, full or partial
* Includes calculator for determining for Part II of Form 982 (Reduction of Tax Attributes)
* Includes support for multiple debt settlements, multiple 1099-Cs, expandable as needed
* Also covers cancelation of your mortgage debt
* Our quick start guide will have you up and running in minutes!
* Excel skills are not required, just type in your numbers to get your results!
* Easy to understand user manual, with line-by-line explanations
* Learn from our clear examples for a variety of tax situations
* IRS Form 982 and Publication 4681 are included for your reference
* This easy to use calculator is an Excel document (requires Excel 97-2003 or later version)
* Purchase for $29, Download Instantly, Start calculating your insolvency figures in minutes
Every year, consumers across the USA receive Form 1099-Cs from creditors who have forgiven some or all of a debt obligation during the prior tax year. Many are shocked to learn that forgiven debt is taxable income to the IRS.
With a few minutes of research online, the “Insolvency Exemption” pops up and you’re led to the dreaded IRS Form 982, affectionately dubbed the “tax form from hell.”
The IRS instructions for Form 982 read like they were written by a CPA with a MBA from Harvard and a mission to confuse as many people as possible! Even professionals are frequently stumped on questions about calculating insolvency, figuring out the exemption, and then filling in the rest of the form correctly.
Tax preparation software is of little help in dealing with Form 982. For example, what if you have received more than one 1099-C? There is simply no software out there that is built to handle that type of situation.
Due to the difficulty in understanding how to calculate insolvency and how to fill in Form 982 correctly, every year, taxpayers overpay millions of dollars to the IRS by simply ignoring the insolvency exclusion and then paying taxes on the canceled debts, even when they would have qualified for an exemption. Or worse, they ignore the Form 1099-C entirely, don’t claim the income, and then get audited by the IRS for underreporting!
The IRS instructions for Form 982 indicate that approximately 11 hours of time should be allotted for this one form!!!
If you are preparing your own taxes and need help with handling a 1099-C, YOU NEED THIS CALCULATOR!
If you are a professional tax preparer, you already know what a headache it is to calculate insolvency and reduction of tax attributes. Here is the calculator you’ve been waiting for!
Technical Requirements to Use the 982 Insolvency Calculator
You will be downloading an easy to use Microsoft XL Spreadsheet.(Requires Excel 97-2003 or later).
No extensive knowledge of Excel is necessary, if you can type in numbers you can use this tool.
Once downloaded you only need to enter your amounts into the clearly marked fields.
Google Spreadsheet is not supported at this time.
SIMPLE 1-2-3 PROCESS
Step 1: Place your order via the PayPal gateway (note: no PayPal account is required)
Step 2: Download the calculator to your computer and get to work in minutes!
Step 3: Open the calculator and complete the fields to calculate your amounts for form 982.
Just $29.00 to Save Countless Hours Completing your 1099-C, Form 982
Important Disclaimer: ZipDebt.com is not a tax preparation service or a credentialed tax advisory firm. The Insolvency Calculator is presented as-is, and we make no warranties, express or implied, as to its validity for any individual tax situations. We present the calculator solely to assist consumers in determining whether the insolvency exclusion may apply to their 1099-C scenario. It should be treated as a tool to improve understanding of how to calculate insolvency, and is not intended to replace professional advice from a CPA or Enrolled Agent.
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