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In 2011, Marie borrowed $10,000. In 2016, the debt was forgiven. Marie does not believe she should report the forgiveness of debt as income because

In 2011, Marie borrowed $10,000. In 2016, 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 2016. What amount of income Marie should record in her tax return in relation to debt forgone?

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