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cancellation of debt on a primary residence

ruallen
Level 1

did they  extend the exlusion from income on a cancellation of debt on a primary residence

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IntuitJim
Employee
Employee

Congress has not passed an 'Extender' legislation package for 2018, and we don't speculate about what Congress might do. Consider filing an extension and discussing the implications with your taxpayer. 

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IntuitCharlene
Moderator
Moderator

Looking at Pub 4681 https://www.irs.gov/pub/irs-pdf/p4681.pdf page 9 indicates that the debt would have needed to be discharged before January 1st 2018 to still qualify. 

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ruallen
Level 1

thank you. Yes I know that but I thought it was  one of the "extenders " that was supposed to happen to extend it through 2018.  Did you hear anything about that?

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IntuitJim
Employee
Employee

Congress has not passed an 'Extender' legislation package for 2018, and we don't speculate about what Congress might do. Consider filing an extension and discussing the implications with your taxpayer. 

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