Bankruptcy taxable

gretchen01 Posts: 1, Reputation: 1

New Member

Jan 17, 2009, 08:24 PM

Bankruptcy taxable

Are my forgiven debts that were cancelled by the courts taxable?

Fr_Chuck Posts: 81,301, Reputation: 7692

Expert

Jan 17, 2009, 08:39 PM

No, debts discharged in the bankruptcy court are not taxable

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