Question: Which of the following situations could cause the value of a cancelled debt to be excluded from a taxpayer-borrower's income? Question 6 Answer The debt

Which of the following situations could cause the value of a cancelled debt to be excluded from a taxpayer-borrower's income? Question 6 Answer The debt was a certain type of student loan The debt was discharged in bankruptcy The debt was discharged when the taxpayer was insolvent The taxpayer's liabilities exceeded the fair market value of assets immediately before the discharge All of the above

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