Form 982 Cancellation of Debt

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  • victororn
    Junior Member
    • Mar 2011
    • 2

    #1

    Form 982 Cancellation of Debt

    How do you handle the amount of cancelled debt in excess of the amount of insolvency ?
  • David1980
    Senior Member
    • Feb 2008
    • 1703

    #2
    Depends what the debt is for. If not for a business or rental or anything, line 21 of 1040 as income.

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