Statements (33)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:law
|
| gptkbp:affects |
credit score
tax liability |
| gptkbp:alsoKnownAs |
debt forgiveness
|
| gptkbp:appliesTo |
corporations
individuals partnerships businesses estates trusts |
| gptkbp:canOccurThrough |
gptkb:settlement
abandonment foreclosure repossession modification of loan terms |
| gptkbp:cause |
taxable income
|
| gptkbp:excludes |
certain student loans
debts canceled as a gift debts discharged in bankruptcy qualified farm indebtedness qualified principal residence indebtedness qualified real property business indebtedness |
| gptkbp:governedBy |
Internal Revenue Code Section 61(a)(12)
|
| https://www.w3.org/2000/01/rdf-schema#label |
Cancellation of Debt
|
| gptkbp:isReportedBy |
lenders
|
| gptkbp:isReportedTo |
gptkb:IRS
|
| gptkbp:relatedTo |
gptkb:bankruptcy
taxation insolvency |
| gptkbp:requires |
filing IRS Form 1099-C
filing IRS Form 982 |
| gptkbp:bfsParent |
gptkb:1099-C
|
| gptkbp:bfsLayer |
7
|