Is Canceled Debt Taxable?

Basically, even cancelled or “forgiven debt” from a lender is still taxable income, according to the IRS. As such, it must be included as income on your tax return. Debts which you are personally responsible such as credit card debt, mortgages and some student loan debt are included. […]

By |2018-03-15T14:59:59+00:00February 10th, 2017|Blog, Personal Taxes|0 Comments
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