USA

6. Which of the following is true with respect to discharge of debt? Because a taxpayer is relieved of an obligation to pay, the taxpayer always includes the debt relief as discharge of debt income. When a taxpayer sells property subject to debt, such debt is included in the amount realized When a taxpayer sells property subject to debt in an installment reporting transaction, it is always treated as a payment Discharge of debt is of no tax consequences because the taxpayer never actually receives anything. None of the above a. b. c. d. e