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Can debt cancelled on a rental building be treated as rental income?

chrisbator
Level 1
 
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IRonMaN
Level 15

No

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)

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IRonMaN
Level 15

No

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)

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TaxMonkey
Level 8

Hmm...not to be at odds with IRonMaN but  I would generally consider income associated with a rental property as rental income even if it was canceled debt.  I wonder why you are asking the question?

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