If I can't support my use of a cancelled debt,

My second mortgage was cancelled. We have been struggling with debt and we consolidated

262

Not applicable

Apr 8, 2020 10:16:16 PM

cancelled or consolidated? big difference. forgiven = discharged= cancelled then you would get a 1099-C reporting the amount cancelled which could result in taxable income in the amount cancelled. consolidated has no tax consequences.

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If I can't support my use of a cancelled debt,