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	<title>The Guide to Cancellation of Debt &#187; Mortgage Discharge</title>
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	<description>Your Source For Cancellation of Debt Info</description>
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		<title>Debt Forgiveness &amp; Income Exclusions</title>
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		<pubDate>Fri, 25 Dec 2009 19:34:49 +0000</pubDate>
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				<category><![CDATA[1099-C]]></category>
		<category><![CDATA[Debt Forgiveness]]></category>
		<category><![CDATA[Mortgage Discharge]]></category>

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		<description><![CDATA[The general rule when it comes to debt forgiveness is that it is taxable. But there are some exceptions. The most common situations when debt forgiveness income is not taxable involve bankruptcy, the Mortgage Forgiveness Debt Relief Act, insolvency, and certain farm and business indebtedness.
Discharges in bankruptcy can generally be excluded.  If you think [...]]]></description>
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