1120-US: Deferring cancellation of debt income under Section 108(i) FAQs

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.


Characters left:

MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

The following includes answers to common questions about the deferral of income and deductions under Section 108(i).

Why is Section 108(i) income included in taxable income this year?

How is the amount of Section 108(i) that is included in taxable income this year determined?

Where do I enter information to defer the recognition of cancellation of debt income?

Where do I enter the portion of cancellation of debt income that is not being deferred?

What are the different types of Section 108(i) elections?

Related topic: 1120 frequently asked questions

Share This