This year i settled some private student loans in which they forgave 5000. My question is if i have to report this as taxable income on my 2015 tax return. I read somewhere that if my debts are > than my assets then i dont have to. I currently have no assets other than my 24000 in wages this year and 1000 in the bank. I still have over 60k in FEDERAL loans. So im about 35000 underwater right? Does this mean i DONT have to report the forgiven debt as taxable income this year??
Federal Taxes: Debt Forgiveness Reporting
Aucun commentaire:
Enregistrer un commentaire