In 2012, Marie borrowed $10,000. In 2017, the debt was forgiven. Marie does not believe she should
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In 2012, Marie borrowed $10,000. In 2017, the debt was forgiven. Marie does not believe she should report the forgiveness of debt as income because she received nothing at the time the debt was forgiven in 2017. Do you agree or disagree? Support your position.
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The debt forgiveness must be reported in income in the ...View the full answer
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Related Book For 
Fundamentals Of Taxation 2018
ISBN: 9781259713736
11th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
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