Debts that have been forgiven or canceled are considered taxable income, but there are exceptions. What to do if you receive a 1099-C.
Debt That's Been Forgiven Is Taxable, But You May Be Exempt
USATODAY.com Feed, USA Today: Money
Mon, 03/05/2012 - 3:01pm
BING NEWS:
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The portion of debt that is forgiven can be considered taxable income. The company that canceled the debt that will issue a Form 1099-C that you'll file with your tax return. Getting something you ...
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