Question
In 2010 Marie borrowed $12,500. In 2015 the debt was forgiven. Marie does not believe she should report the forgiveness of debt as income because
In 2010 Marie borrowed $12,500. In 2015 the debt was forgiven. Marie does not believe she should report the forgiveness of debt as income because she received nothing at the time the debt was forgiven in 2015.
What amount of income Marie should record in her tax return in relation to debt forgone?
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Management Accounting And Strategic Human Resource Management
Authors: John Innes, Reza Kouhy
1st Edition
1859714862, 978-1859714867
