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The Mortgage Forgiveness Debt Relief Act and Debt Cancellation
Jan 24, 2012 . The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the . Also see IRS news release IR-2008-17. . debt, you may have to include the cancelled amount in income for tax purposes, depending on the circumstances. . In addition, the debt must be secured by the home.
http://www.irs.gov/individuals/article/0,,id=179414,00.html

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Mortgage Workouts, Now Tax-Free for Many Homeowners; Claim ...
Feb 28, 2008 . 12, 2008. WASHINGTON — Homeowners whose mortgage debt was . But under the Mortgage Forgiveness Debt Relief Act of 2007, enacted Dec. . Debt forgiven on second homes, rental property, business property, credit .
http://www.irs.gov/irs/article/0,,id=179073,00.html

Mortgage Tax Debt Relief Archives: Tax Relief Blog
Oct 7, 2008 . Two-year extension of home mortgage debt forgiveness relief provision. . The deduction, available only for tax years beginning in 2008, .
http://blog.myirstaxrelief.com/mortgage-tax-debt-relief/

Mortgage Tax Debt Extension - Tax Relief Blog
Oct 7, 2008 . Mortgage debt relief extension, tax relief for community banks, and . three tax provisions in the Emergency Economic Stabilization Act of 2008:. . are: (1) an extension for home mortgage debt forgiveness relief, (2) tax relief .
http://blog.myirstaxrelief.com/2008/10/mortgage-tax-debt-extension.html

Mortgage Tax Debt Relief, AMT Relief - Tax Relief Blog
Jan 11, 2008 . Mortgage Tax Debt Relief, AMT Relief - why you need professional tax advice AMT . paid during the year for qualified mortgage insurance as home mortgage . The new exclusion applies for the 2008 through 2010 tax years.
http://blog.myirstaxrelief.com/2008/01/mortgage-tax-debt-relief-amt-r.html

Additional findings from the survey are:

  • Tax Relief for Cancelled Mortgage Debt - TurboTax® Tax Tips ...
    Before the Mortgage Debt Relief Act of 2007, people who lost their homes to . But, thanks to those 2007 and 2008 tax law changes, when a short sale in 2007 .
    http://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Tax-Relief-for-Cancelled-Mortgage-Debt/INF12033.html

  • What's New for 2008 Taxes
    The recovery rebate credit is a special federal tax credit for 2008 only. . But a change in the tax law makes mortgages on a main home exempt from the tax on .
    http://taxes.about.com/od/2008taxes/a/whatsnew2008.htm

  • Canceled Debt & Mortgage Forgiveness - Tax Planning: US - About ...
    Canceled debt on a main home may be tax-free, providing welcome tax relief to people . for tax relief under a new tax law, the Mortgage Forgiveness Debt Relief Act of 2007. . This provision applies to debt forgiven in 2007, 2008 or 2009.
    http://taxes.about.com/od/income/qt/canceled_debt.htm

  • 10 Tax Questions the Candidates Don't Want You to Ask - The ...
    2008 John O. Fox - All rights reserved. . Would you limit the tax break for home mortgage interest so that it subsidizes the purchase of one basic home? . Nowhere is this more apparent than with the mortgage interest deduction, by far the .
    http://www.10taxquestions.com/articles.php?aid=2

On introductory bonuses, the survey found that:

  • Mortgage Insurance Tax Deduction | Nolo.com
    The Mortgage Forgiveness Debt Relief Act of 2007 also extended a tax . Homeowners who moved into their vacation home before the end of 2008 will still be .
    http://www.nolo.com/legal-encyclopedia/homeowner-tax-breaks-recent-developments-29545-2.html

  • Ezra Klein - Who does the mortgage-interest deduction benefit?
    Nov 16, 2010 . Alex Hart has a good post examining whether the mortgage-interest tax deduction . on on house prices, home ownership rates and local tax receipts? . Posted by: pitchd2008 | November 19, 2010 12:00 PM | Report abuse .
    http://voices.washingtonpost.com/ezra-klein/2010/11/who_does_the_mortgage-interest.html

Emergency Economic Stabilization Act of 2008 - H.R. 1424 (EESA ...
Dec 30, 2011 . Tax Extenders and Alternative Minimum Tax Relief Act of 2008 . home mortgages of low-income persons (the mortgage credit certificate .
http://www.taxformprocessing.com/tax/news/EESA/index.htm

Realty Times - Mortgage Insurance Tax Deduction Extended
Jan 9, 2008 . Real Estate News And Advice - Mortgage Insurance Tax Deduction . Effective January 1, 2008, according to the "Mortgage Forgiveness Debt Relief Act of . mortgage crisis after risky subprime and non-traditional home loans .
http://realtytimes.com/rtpages/20080109_taxdeduct.htm

For more information for boomer consumers, see my blog 2008 paying off old debt.

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