Bud borrows $20,000 from a friend. Before he can repay any of the loan, the friend dies.
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Bud borrows $20,000 from a friend. Before he can repay any of the loan, the friend dies.
His friend’s will provides that any amounts owed to him are to be forgiven upon his death.
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Related Book For 
Concepts In Federal Taxation 2011
ISBN: 9780538467926
18th Edition
Authors: Kevin E. Murphy, Mark Higgins
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