my chapter 7 bankruptcy was actcepted and final in january of 2014. how will this efect my federal income tax return for 2014?

That is a question only a CPA can answer, but you need to file IRS Form 982 in the tax year in which you received your discharge. See my article on filing taxes after bankruptcy for more information on this and a discussion of whether debts that are discharged in bankruptcy become taxable income to the taxpayer/debtor.