I am trying to understand a paragraph from a tax manual, and for the life of me I can't seem to understand what they are saying. The paragraph in question is from page 4 of publication 4681
The amount of nonrecourse debt in excess of the FMV of the property subject to the nonrecourse debt to the extent nonrecourse debt in excess of the FMV of the property subject to the debt is forgiven.
This is an academic question for me now, rather than something I need to know the legal meaning of. It is the worst piece of double-speak that I have encountered, and I was curious as to what the author was trying to get across.
(The acronym "FMV" stands for "fair market value")