2008 Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)

Summary: This is an example of Form 982 with the following line items filled out:

The Name shown on return field contains John and Mary Elm. The Identifying number field shows an identification number of 234-00-7890.
The box on line 1e, Discharge of qualified principal residence indebtedness is checked.
Line 2, Total amount of discharged indebtedness excluded from gross income shows $25,000.00.
Line 10b, Applied to reduce the basis of your principal residence. Enter amount here ONLY if line 1e is checked is blank.