forgiven debt is considered income to the IRS

来源: tank 于 2010-08-25 16:03:21 [] [旧帖] [给我悄悄话] 阅读数 : 0 (242 bytes)

there was law last year banning this practice, but i don't know about this year.

Forgiven debt is considered income, lender will report their loss to the IRS at the year end, and IRS will charge the debtors the loss as regular income.

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