Question: Mike, a single taxpayer, has $ 1 0 , 0 0 0 of student loans forgiven in 2 0 2 3 under a federal student

Mike, a single taxpayer, has $10,000 of student loans forgiven in 2023 under a federal student loan forgiveness program. His total student loan balance was $34,000. His 2023 AGI is $55,000. How much cancellation of debt income will Mike need to recognize in 2023?

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