If you signed a loan agreement for 13,000 and did not make any down payment, your basis would be 13,000.
Since the 1099-C shows 11,896 you would subtract that from your basis of 13,000 to show a 1,104 loss.
"For an exemption, do I have to count the value of my principal home and vehicles that I am still paying off?"
I am not sure what you are asking here, can you explain?
Is this a different subject?
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