debt forgiveness on primary residence extended to 2014.....

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Submitted by flu on January 1, 2013 - 3:30am

As mentioned here,

The fiscal deal package includes Section 202: Extension of exclusion from gross income of discharge of qualified principal residence indebtedness

For the lazy that doesn't want to read this 140+ page document, basically it's extended to Jan 1. 2014, assuming it passes the House.

Submitted by kev374 on January 1, 2013 - 6:34pm.

LOL, in 2014 it will be extended to 2015 and in 2015 to 2016 so basically this act is as good as permanent! And of course all the other breaks will be extended as well since no Democrat wants to cancel anything regardless of what it is doing to our budget debt and deficit.

We have 16 trillion in debt and growing rapidly...pfft, who cares about that!

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