The Tax Benefits Of Real Estate Investing
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Version vom 5. Oktober 2024, 03:35 Uhr
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In the above scenario, just saved $7,500, but the irs considers it income. When the amount has over $600, your creditor should send you a form 1099-C. How would it be income? The internal revenue service considers "debt forgiveness" as income. So how can find out of increasing your taxable income base by $7,500 this particular particular settlement?
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