Mark for follow up uestion 59 of 75. Vhy is cancelled recourse debt treated as income? O Because the taxpayer received the O Because a deduction is allowed if the debt is related to the taxpayer's primary residence. O Because recourse debt is subject to discharge in bankruptcy. O Because recourse debt is not subject to discharge in bankruptcy. benefit of the use of the money but did not carry the burden of repayment. Mark for follow up estion 60 of 75. at is a reamortized loan? An uncollectible loan on real property. A loan where the interest rate has been lowered A cancelled loan on property that has been repossessed. missad payments are added to the loan balance in order to bring the payments current