<prompt> Human: Apparently when their home was written off, it became taxable income. Theyre in their mid 70s. Is there anything that can be done to minimize their tax debt?Edit: Apologies for the typo. The house was written off in 2015. They were told they now own the home so its not foreclosuremortgage reduction. 16,000 is the amount they owe in taxes. I will look into the advice many of you have provided. Thank you so much!!  <response>: The term you are looking for is Mortgage Debt Relief Act which was originally passed in 2007. It has been extended multiple times. You need to see if it was extended to include the time when their mortgage was forgiven. 