To: IYAS9YAS
Someone correct me if I am wrong, is not forgiven debt considered taxable income from the tax code and must be reported on a 1040 and is subject to federal income tax.
To: Maine Mariner
Someone correct me if I am wrong, is not forgiven debt considered taxable income from the tax code and must be reported on a 1040 and is subject to federal income tax.Depends on how, and if, it's reported by the debt-holder.
24 posted on
06/08/2015 5:54:35 AM PDT by
IYAS9YAS
(Has anyone seen my tagline? It was here yesterday. I seem to have misplaced it.)
To: Maine Mariner
Forgiven debt is taxable income.
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