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Debt Cancellation Archives – Ansari Law Firm

IRS TaxNews and Articles

Debt Cancellation May Be Taxable

Debt Cancellation May be Taxable If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016. Here are 10 tips about debt cancellation: Main…
Ansari Law Firm
March 2, 2017