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Bodie has experienced financial difficulty recently. Last year he borrowed $204600 to undeveloped real estate. This year the value of the real estate dropped dramatically

Bodie has experienced financial difficulty recently. Last year he borrowed $204600 to undeveloped real estate. This year the value of the real estate dropped dramatically and Bodies lender agreed to reduce the loan amount by $30,000. The real estate is worth $165600 and Bodie has $30980 in other assets but no other liabilities. How much must Bodie include in gross income? If your answer is zero, answer 0

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