The National Directory of
Certified Public Accountants

Ask A CPA - Cancellation of Debt

1. Are my debts that were cancelled in bankruptcy taxable?

2. Are there tax consequences to my mortgage restructuring?

3. Is a debt cancellation taxable?

4. Is Cancellation of Debt from a primary residence taxable?

5. Is cancellation of my student loans taxable?

6. Is my cancellation of credit card debt taxable?

7. Is my house foreclosure a taxable event?

8. What Form is a Cancellation of Debt reported on?

9. What Form is used to report the Cancellation of debt exclusion for primary residences?

If you need professional help with "Cancellation of Debt" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.