Does a Ch 7 BK give me a tax liability?

[Gracious]

I was curious to know that, assuming I am discharged in my Ch 7 filing in about 100 days, for about $75,000 in personal and business debt on credit cards only.
Will I have either a Federal tax liability or California tax liability for 2010 tax return? Does either tax agency count this as income? If they do, I would think I am in the 25% marginal tax brackett( about 17.9% effective)Federal which is about $13,425 and about 8% Calif State or about $6000. Total would be about $20,000. I am on social security and a small pension of about $563
a month total. I would not be able to pay these taxes and my half of my personal residence worth about $50,000 could be taken by the feds to satisfy the debt. I have it homesteaded in CA but the feds are exempt from that law.
I might be living in the back of my SUV. AM I screwed or what?

[good2free]

Don't worry. You are not going to get any 1099's for the unsecured debt. That is the beauty of CH7. You are not required to pay a penny towards the taxes for the amount discharged in CH7. Even if you get a 1099 in error from a cc, company, I think all you need to do is fill out an additional form indicating that you are discharged in BK CH7.

Enjoy

[Gracious]

Thank You Good2free

Thank you for the prompt response. I am feeling better about this. I know it is a large amount and I had every intention to pay it all back but my industry is very depressed. I never missed any debt payments in 43 years of working and feel bad it had to come to this. Now I am to old to be employed and too broke to start a new business. I am still hopeful I can one day soon get some decent paying job or even part time employment.