I received two 1099-C forms. I want to complete a 982 for insolvency. Is that something I can do on Turbo? Also, do I need to enter the 1099-C if I will do the 982 form?

If you want to file an insolvency worksheet with your return, you need to file using TurboTax software installed on your computer. You can purchase a CD or download for the version you need and then you will be able to file Form 982 and the insolvency worksheet. 

These forms are included in Deluxe, Premier and Home & Business.

Click here for products & pricing. 

The forms have to be added in Forms mode and you will need to understand how to complete the forms with minimal guidance.

Click here to learn more about the insolvency worksheet.

To access Forms mode and add the forms you need:

1. Install the software and start your return. 
2. When you have entered everything except the Form 982 and the insolvency worksheet, click on the Forms icon in the upper right corner. 
3. Click on the Open Form icon toward the upper left and search for Form 982. 
4. Add the form to the return. You have to compete Part I to indicate the reason for filing the form. 
5. Complete Part II, if the debt discharged was for real estate. Part III only applies to Corporations, so you should not need to complete it. 
6. Next use Open Form to search for and add the Insolvency worksheet. 
7. You have to complete the entire form. 
8. You can exclude the discharged debt up to the amount shown on line 7 of the insolvency worksheet. 

It is possible you will get a letter from the IRS after filing this return. Keep a complete copy of the return for at least three years along with any documentation of your debts.