Income Tax Consequences of Farm Debt Cancellation and Bankruptcy
Casler, George L.
This bulletin is not intended to be an exhaustive treatment of income taxes related to farm financial distress. The intent is to give farmers and their financial and tax advisors some basic information about the income tax consequences of cancellation of debt and bankruptcy. Those who need information beyond that included in this bulletin should seek sound advice from competent attorneys and tax practitioners.
A.E. Ext. 89-16
Charles H. Dyson School of Applied Economics and Management, Cornell University