Hello, and welcome. Thanks for your question. My name is XXXXX XXXXX I would be happy to help you
You do not have to pay tax on the cancellation of debt related to your primary residence
what do i need to do
You fill out form 982, check box 1e and write the amount of the canceled debt on line 2. That's all you have to do with the form.
you're welcome. Is there anything else I can assist you with tonight?
Okay great. If you would, please rate my response positive so that I may receive credit for assisting you today