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Forgiveness of Debt Tax Relief Act of 2007 has extended to 2012 - HR3648 at www.irs.gov

To amend the Internal Revenue Code of 1986 to exclude discharges of indebtedness on principal residences from gross income, and for other purposes. You need to contact your Accountant or financial Advisor to find out if you qualify. The link to the site is: http://www.govtrack.us/congress/billtext.xpd?bill=h110-3648

You will need Form 982 located at http://www.irs.gov/pub/irs-pdf/f982.pdf