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• If you incurred a debt from a loan or from buying something on credit and a portion of the amount you owe is discharged or forgiven ("cancelled"), the amount of the forgiven debt is generally counted as income to you.

  U.S. Centers for Medicare & Medicaid Services - Cite This Source - This Definition
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  Cite Definition for Cancelled Debts

  American Psychological Association (APA)

  Cancelled Debts. (n.d.). HealthCare.gov Glossary. Retrieved March 28, 2023, from website: http://www.expertglossary.com/definition/cancelled-debts.

  Chicago Manual of Style (CMS)

  Cancelled Debts. HealthCare.gov Glossary. U.S. Centers for Medicare & Medicaid Services. http://www.expertglossary.com/definition/cancelled-debts (accessed: March 28, 2023).

  Modern Language Association (MLA)

  "Cancelled Debts." HealthCare.gov Glossary. U.S. Centers for Medicare & Medicaid Services. 28 March. 2023 http://www.expertglossary.com/definition/cancelled-debts.

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