Tax Facts

8132 / What types of discharge of debt income are excluded from gross income?

There are five types of discharge of debt income that are excluded from gross income. As discussed in more detail in Q 8133 to Q 8138, the five exclusions are:
Discharge in bankruptcy;

Insolvency discharge;

Qualified farm indebtedness discharge;

Qualified real property business discharge; and

Qualified principal residence discharge.


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