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Qualified Principal Residence Debt

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    Qualified Principal Residence Debt

    I think that I found the answer to my earlier question about CODI. I just read an update in The Tax Book, that taxpayers may exclude income from cancellation of qualified principal residence indebtedness for discharge of debt occurring after 2006 and before 2015. If I am reading this correctly, in my client case, the $86,104.85 is not income to him and will not inflate his total income on Form 1040, line 21. Please advise...Thanks!
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