Answered: Re: cancellation of debt on a primary residence

ruallen · ‎03-06-2019

did they extend the exlusion from income on a cancellation of debt on a primary residence

IntuitJim · ‎03-07-2019

Congress has not passed an 'Extender' legislation package for 2018, and we don't speculate about what Congress might do. Consider filing an extension and discussing the implications with your taxpayer.

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IntuitCharlene · ‎03-07-2019

Looking at Pub 4681 https://www.irs.gov/pub/irs-pdf/p4681.pdf page 9 indicates that the debt would have needed to be discharged before January 1st 2018 to still qualify.

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ruallen · ‎03-07-2019

thank you. Yes I know that but I thought it was one of the "extenders " that was supposed to happen to extend it through 2018. Did you hear anything about that?

IntuitJim · ‎03-07-2019

Congress has not passed an 'Extender' legislation package for 2018, and we don't speculate about what Congress might do. Consider filing an extension and discussing the implications with your taxpayer.

cancellation of debt on a primary residence

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