Coordination of exclusions
(A) Title 11 exclusion takes precedence
(A)Title 11 exclusion takes precedence#
Subparagraphs (B), (C), (D), and (E) of paragraph (1) shall not apply to a discharge which occurs in a title 11 case.
(B)Insolvency exclusion takes precedence over qualified farm exclusion and qualified real property business exclusion#
Subparagraphs (C) and (D) of paragraph (1) shall not apply to a discharge to the extent the taxpayer is insolvent.
(C)Principal residence exclusion takes precedence over insolvency exclusion unless elected otherwise#
Paragraph (1)(B) shall not apply to a discharge to which paragraph (1)(E) applies unless the taxpayer elects to apply paragraph (1)(B) in lieu of paragraph (1)(E).