Difference between revisions of "Smart Tax Saving Tips"

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Latest revision as of 00:43, 1 November 2024

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In the above scenario, merely saved $7,500, but the government considers it income. If the amount has finished $600, the creditor must send you' form 1099-C. How is it income? The government considers "debt forgiveness" as income. How exactly can an individual out of accelerating your taxable income base by $7,500 this kind of settlement?

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