TBS 5- Research You are preparing the tax return for your client, Monte Carlo. Included in his workpapers is Form 1099-C, Cancellation of Debt. Monte explained that due to the poor economy, he has been struggling to make ends meet. In lieu of filing for bankruptcy and because he was not insolvent, he was able to negotiate a settlement with his creditors last year, reducing his debt by $25,000. Monte is not sure if this should be included as income on his tax return. Which section of the Internal Revenue Code best defines the items that constitute gross income