How to handle student loan forgiveness on your return
Typically, when lenders forgive at least $600 of student loans and it's taxable, they'll send borrowers and the IRS a copy of, which includes the exact amount of canceled debt, said Tommy Lucas, a CFP and enrolled agent at Moisand Fitzgerald Tamayo in Orlando, Florida.
It's a non taxable $20,000 gift from U.S. taxpayers
The Trickle Down Economics folks getting all butt hurt by Trickle Up Economics.
“The President does not have the Authority to cancel Debt. He can delay. He csn postpone. An Act of Congress is required” it’s in the Constitution unlike Abortion. Students have not paid 10 cents on Loans for 2 Years including 14 Democrats of the HOUSE.
I'm going to tax a $10,000 write off from my taxes, since Biden rewarded them I'm going to reward myself.
Should be given a 1099-C as income just like all other written off debt
It means nothing because it’s unconstitutional.
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