In $2023,$ Nithya lost her job when her employer had to close their business. Because Nithya is struggling to pay her monthly expenses, she arranges a de

home is $$220,000,$ and the fair market value at the time of the mortgage reduction is $$280,000.$ What amount of the cancellation of debt must Nithya inc

a$.$ $$60,000$

b$.$ $$0$

c$.$ $$45,000$

d$.$ $$30,000$