Melissa D. asked
I have a 2021 cancellation of debt (COD) issue involving both personal and S-corporation debts. Some debts were personally guaranteed, and some were not. How should I report these discharged debts on my tax forms, and where should they be entered?
March 17th, 2023
Ashley R. answered
For the S-corporation (1120S), report the cancellation of debt (COD) as other income on Schedule K, ...
March 17th, 2023
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