In TY$2019,$ a taxpayer foreclosed on a home and included $$1,500,000$ of forgiven indebtedness in income. As of TY$2020,$ is there anything he can do about this?

Select one:

a$.$ Yes; He can amend his TY$2019$ return using the retroactive extension of the provision for excluding qualified principal residence indebtedness to reduce his income and taxable attributes.

b$.$ Yes; He can set up a payment plan.

c$.$ Yes; He can take the issue to tax court and try to prove insolvency.

d$.$ No; Unfortunately the forgiven indebtedness stay.