ng is NOT taken into account on the insolvency worksheet? The value of a pension plan The assets exempt from bankruptcy. The separate assets of a spouse when filing jointly The exempt assets beyond the reach of creditors. Mask for follow up Question 14 of 75. Generally, a non-recourse barrower will realize gain on the foreclosure or repossession of secured property when the greater than the borroweruar basis in the property. Balance of principal outstanding Repossession costs Fair market yalue (FMV) Onginal purchase price. Mark for follow up Question 15 of 75. No taxable income is recognized from cancellation of debt when the Taxpayer was solvent pnor to the cancellation of debt. Canceled debt was recourse debt. Canceled debt was for the taxpayer's second home Cancellation of debt was intended as a gift. Mark En follow ng is NOT taken into account on the insolvency worksheet? The value of a pension plan The assets exempt from bankruptcy. The separate assets of a spouse when filing jointly The exempt assets beyond the reach of creditors. Mask for follow up Question 14 of 75. Generally, a non-recourse barrower will realize gain on the foreclosure or repossession of secured property when the greater than the borroweruar basis in the property. Balance of principal outstanding Repossession costs Fair market yalue (FMV) Onginal purchase price. Mark for follow up Question 15 of 75. No taxable income is recognized from cancellation of debt when the Taxpayer was solvent pnor to the cancellation of debt. Canceled debt was recourse debt. Canceled debt was for the taxpayer's second home Cancellation of debt was intended as a gift. Mark En follow