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Just Read Tommy Johnson Out Cruz Pedregon still alive @ JSR
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DRR Sportsman
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I have a question. Should the 'up to $50,000' in debt be forgiven, what is the tax implication? Is the forgiven debt considered income? Will the IRS come looking for their share?
 
Posts: 700 | Location: At the beach | Registered: August 05, 2003Reply With QuoteReport This Post
DRR S/Pro
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quote:
Will the IRS come looking for their share?

The $1200. stimulus is subject to income tax. One could extrapolate that tuition debt relief would be as well. But, we're dealing with politicians so assume at your own risk.


Illegitimi non carborundum
 
Posts: 2340 | Location: OKC, OK | Registered: February 15, 2008Reply With QuoteReport This Post
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