In 2013, Marie borrowed $10,000. In 2018, the debt was forgiven. Marie does not believe she should
Question:
In 2013, Marie borrowed $10,000. In 2018, 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 2018. Do you agree or disagree? Support your position.
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The debt forgiveness must be reported in income in the y...View the full answer
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