Level 2

cancellation of debt on a primary residence

Forum|Forum|7 years ago
March 6, 2019
1 reply
9 views

did they extend the exlusion from income on a cancellation of debt on a primary residence

ProSeries Professional

This topic has been closed for replies.

IntuitCharlene

Community Manager

Looking at Pub 4681 https://www.irs.gov/pub/irs-pdf/p4681.pdf page 9 indicates that the debt would have needed to be discharged before January 1st 2018 to still qualify.

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R

ruallenAuthor

Level 2

thank you. Yes I know that but I thought it was one of the "extenders " that was supposed to happen to extend it through 2018. Did you hear anything about that?

IntuitJim

Level 5

Congress has not passed an 'Extender' legislation package for 2018, and we don't speculate about what Congress might do. Consider filing an extension and discussing the implications with your taxpayer.

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