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To exclude cancellation of debt from taxation, the debtor must have a negative net worth on what date? The day before the cancellation of debt.

To exclude cancellation of debt from taxation, the debtor must have a negative net worth on what date?

The day before the cancellation of debt.

The day after the cancellation of debt.

The year immediately before the cancellation of debt.

The year immediately after the cancellation of debt.

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