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Revision as of 23:29, 7 October 2026
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Debt forgiveness, you see, is treated as taxable income. Why? From a nutshell, particularly gives cash and you should not pay it back, it's taxable. This is the way have spend taxes on wages coming from a job. Part of the reason that debt forgiveness is taxable is they otherwise, end up being create an enormous loophole in the tax code. In theory, your boss could "lend" cash every 2 weeks, and the end of the age they could forgive it and none of several taxable.
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