Hmmm, well it looks like I found the answer to my own question.http://turbotax.intuit.com/tax-tools/foreclosure_turbotax/articleThis does not state the letter of the law, but it also does not mention that you have to show insolvency to take advantage of the new law. Previously, the only way to negate the income tax on forgiven debt was to show insolvency.Kasha
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