Golden Tankard

Backoftheboat

Joined: 08/29/2011 Posts: 9406
Likes: 7238

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As I am sure you know when loaned money is forgiven by the a lender the IRS


considers the amount forgiven to be income for which you must pay federal and state income taxes in the year the loan is forgiven.

(In response to this post by Bristol 32)

Posted: 11/20/2020 at 08:45AM


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Current Thread:
 
  I suspect you will not hear or see anything from Ivanka defending her . . . -- MidloHokie 11/20/2020 07:30AM
  I suspect no one cares what you suspect. Except a few -- fuquaypirate 11/20/2020 08:32AM
  Biden/Harris. Thanks in advance for paying my kids college loans off. -- Bristol 32 11/20/2020 07:37AM
  I wouldn't place that order yet . . -- MidloHokie 11/20/2020 07:53AM
  Why exactly should anybody get a break here? Government interaction -- Paleales 11/20/2020 09:47AM
  "From each according to his ability, to each according to his needs" -- Rolling OX 11/20/2020 08:39AM
  Loans are in my kids names Midlo. Oh to be young and poor again. I’d do it -- Bristol 32 11/20/2020 08:00AM
  No loans for my two . . one was a full-ride athlete the other . . -- MidloHokie 11/20/2020 08:05AM
  Then you brought them up to be conservative. ** -- Rolling OX 11/20/2020 08:40AM
  Fake News ** -- Pour Won 11/20/2020 09:32AM
  Good for them. I’m guessing their learning the value of hard work and -- Backoftheboat 11/20/2020 08:39AM
  Wow you really are amazing ... and if someone doesn’t believe it -- fuquaypirate 11/20/2020 08:34AM
  Well, you certainly got your fill off the state’s teet for both of them. -- Bristol 32 11/20/2020 08:16AM

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