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 E equity The value of a debtor's interest in property that remains after liens and other creditors' interests are considered. [read post]
Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately).An applicable form is Form 982, "Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment).Jordan E. [read post]