I have debt that was forgiven by several creditors throughout 2014. Everything I read online says that i need to determine the value of all my assets on the day the debt was forgiven. How do you handle this when the debt was forgiven by each creditor on a different date? Also I have 2 loans against my 401K. The IRS guide says that I have to report "Interest in my 401K". So do I report the 401K value minus the amount of the outstanding loans? Any help is appreciated.