(Answered) Question jessica purchased the home in 2010 for 200000 in

Accounting

Question: Jessica purchased the home in 2010 for $200,000. In January 2016, at the time of the workout, the balance owed was $185,000. The home was never used in a business or as rental property. The mortgage was used to purchase, and was secured by, the home. Samantha has not filed for bankruptcy. What would The reduction amount be that is reported on Form 982?

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