We filed CH13 & surrendered our timeshare within. They did not file a claim against us, but now we get this form. I assume I will claim this now as taxable income? How much tax will I have to pay on that? It lists a Fair market value on the property of 19K (which doesn't match anything we ever seen it is definitely inflated) & then the Amount of debt cancelled (which I do agree) is 11K. Am I looking at a couple thousand owed? Thanks!
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