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The Tax Exclusion For Canceled Mortgage Debt
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www.irs.govfor mortgage debt canceled or forgiven was extended, through December 31, 2025. See Report as ordinary in-come on Form 1040, 1040-SR, or 1040-NR applicable canceled or forgiven mortgage debt , later. Introduction. This publication explains the tax rules that apply when you sell or otherwise give up ownership of a home. If you meet
Abandonments and Repossessions, Canceled Debts,
www.irs.govor all of the canceled debt from income. If you can exclude part or all of the canceled debt from income, you should also read Qualified Principal Residence Indebtedness under Re-duction of Tax Attributes in chapter 1. 1. Canceled Debts. This chapter discusses the tax treatment of canceled …