Dale in IN

Mike : If you have the Indiana program it comes in on Sch 6, Line 6a go to your bunny on the far right , click and there is a work sheet that comes up with a lot of the credit plans on it. The Indiana 529 Plan is #837 Check the box on the left and enter the $ amount on the right. Then start going back and it will calculate automatically. I justy had one of those on Friday Evening. Dale in IN

Deb: Still trying to get this new form figured out. I have been here all along off and on just not signed in. In answer to your question go to Pub 908, page 24, middle colum, go down about 3/4 of the way. There is an exclusion for personal residence. The way I see it you have a personal loss and personal losses can not be deducted. It would be personal residence sense her son ( a relative) lived in the home. This is the way I see it. Basis $601591. Short Sale $457728. Loss $143863. Cancled Debt $119433. Personal loss $ 24430. I am a little rusty but I think it would go to a sch D and Cancel out. Dale