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    Debt Forgiveness Creates a Taxable Event

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    Many people struggle to understand that debt forgiveness creates a taxable event. However there are some exclusions. The following article covers the topic in good detail.

    Please give your thoughts and comments about this.

    http://taxes.about.com/od/income/qt/canceled_debt.htm

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    Solution Preview

    Many people struggle to understand that debt forgiveness creates a taxable event. However there are some exclusions. The following article covers the topic in good detail.

    Please give your thoughts and comments about this.

    http://taxes.about.com/od/income/qt/canceled_debt.htm

    Debt cancellations are definitely an attractive option for the cash strapped taxpayer. An individual runs into financial trouble, and can't make their bills. The credit card company ...

    Solution Summary

    Many people struggle to understand that debt forgiveness creates a taxable event. However there are some exclusions. The following article covers the topic in good detail.

    Please give your thoughts and comments about this.

    http://taxes.about.com/od/income/qt/canceled_debt.htm

    $2.19

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