Debt Settlement and Income Taxes - What You Need to Know

Discusses the tax consequences of using debt settlement to resolve problem debts. Explains the insolvency rule that permits most debtors to exclude canceled debts from income.
Comments on article "Debt Settlement and Income Taxes - What You Need to Know"
Name Views and CommentsDate
barbara very informative. i was really concerned about the tax consequences of debt settlement. i own a condo but right now there is no equity in it i cannot even sell it after a year on the market. thank you for your insight and expertise. 3/27/2008
jeanette Just saw this site for the first time. Interesting !!! Does anyone know if your assets (in insolvency calculation) must include a 401K account. 6/13/2006
Angie Very informative as I am trying to figure out how to handle our debt cancellation on the 2005 tax forms. 3/19/2006
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