Debt Cancellation & Bankruptcy Tax Issues
Includes Income Exclusion Rules - Recorded 6/24/21
When a taxpayer has debt cancelled, it is taxable income unless there is an applicable exclusion. This course reviews the rules related to income inclusion, how to calculate the income inclusion, the exclusions available to taxpayers, and the tax cost of those exclusions.
Learning Objectives
Education Information
IRS Program Number: NMVBP-T-00180-21-S
Length: 100 minutes plus optional question-and-answer session (no CE)
Prerequisite: None
Advanced Preparation: None
Program Level: Basic
Delivery Method: Self-Study
Field of Study: Federal Tax (IRS);
Credit hours: 2 IRS CE
Instructor: Thomas Gorczynski, EA, CTP, USTCP Click here to learn more about the instructor
All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here for more information regarding our education policies.