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a general partner in the partnership, and the April 9, 1985,
personal guaranty agreement. In the same order, the bankruptcy
court explicitly asserted its jurisdiction over decedent for this
purpose. Giving due regard to principles of judicial comity, we
discern no reason to second-guess the bankruptcy court’s
assertion of jurisdiction over decedent in the partnership’s
chapter 11 bankruptcy case. See 28 U.S.C. secs. 151, 157, 1334
(2000).
We conclude that decedent’s debts in question were
discharged “in a title 11 case” within the meaning of section
108(d)(2). Accordingly, we hold that decedent’s discharge of
indebtedness income is excludable from gross income pursuant to
section 108(a)(1)(A).
We have considered all arguments raised by the parties.
Arguments not addressed herein are moot, irrelevant, or without
merit.
To reflect the foregoing,
Decision will be entered
for petitioner.
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Last modified: May 25, 2011