If a loan is repaid, the lender does not have to include the repayment in gross income.

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If a loan is repaid, the lender does not have to include the repayment in gross income. There is no exclusion in the tax law that permits taxpayers to omit such amounts from gross income. How can this be explained?
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Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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