IRS Reject Code F982-003-01
Software reference · Written guide Content date 1 min read
An individual income tax return that includes Form 982 will reject with code F982-003-01 if it's missing the total amount of indebtedness that's being excluded from gross income:
F982-003-01
If Form 982, Line 1d 'DschrgQlfyRealPropBusIndbtInd' is checked, Line 4 'ExcldForDschrgQlfyRealPropAmt' must have a non-zero value.
To correct this reject in Tax Processors Plus, from the Main Menu of the tax return (Form 1040) select:
- Income
- Other Income
- Cancellation of Debt
- Reduction of Tax Attributes - For a return being filed MFJ, select the taxpayer or spouse as appropriate.
- Total Amount of Indebtedness Excluded from Gross Income - Enter the amount.
Additional Information: