Generally, yes. While borrowed funds are excluded from income, the release of the repayment obligation increases the taxpayer's assets. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax Accounting
13 Şubat 2013 Çarşamba
Does the discharge or forgiveness of indebtedness result in taxable income?
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Generally, yes. While borrowed funds are excluded from income, the release of the repayment obligation increases the taxpayer's assets. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax Accounting
Generally, yes. While borrowed funds are excluded from income, the release of the repayment obligation increases the taxpayer's assets. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax Accounting
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