You'll need to sign in or create an account to connect with an expert.
Cancellation of personal debt such as for credit card debt is not income subject to PA personal income tax and is not reportable. PA does not use federal AGI in any way to calculate the PA tax.
If the debt was related to business expenses then it would be reported. Here's a good summary:
Cancellation of personal debt such as for credit card debt is not income subject to PA personal income tax and is not reportable. PA does not use federal AGI in any way to calculate the PA tax.
If the debt was related to business expenses then it would be reported. Here's a good summary:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
meyer1128
New Member
BrandonCJGrimes
New Member
jon4uu
New Member
tillimikemilton
New Member
tgrant930-
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.