CDA bank loans Joan $250,000 for a business loan. Two years later, Joan determined that she cannot

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CDA bank loans Joan $250,000 for a business loan. Two years later, Joan determined that she cannot pay the remaining debt and satisfied the loan with a lump sum payment of $100,000 while the bank forfeits the remaining $150,000. What amount would Joan report as gross income on her current-year tax return

Posted Date: May 18, 2024 10:08 PM

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CDA bank loans Joan $250,000 for a business loan. Two years later, Joan determined that she cannot

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