1428856

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

posted

Connect with an expert

1 Reply

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

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.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post