Tag Archives: forgive mortgage debt

IRS Tips Regarding Mortgage Debt

March 18, 2012  |   Posted by :   |   Bankruptcy   |   0 Comments

Mortgage Debt Forgiveness: 10 Key Points First, if you have filed bankruptcy then forgiven debt is not taxable income and simply filing IRS Form 982 with your federal taxes will cancel that debt. For non-bankruptcy filers, the following may be applicable to your situation: Canceled debt is normally taxable to you, but there are exceptions. […]

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