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In 2015, Marie borrowed $11,000. In 2020, the debt was forgiven. Marie does not believe she should report the forgiveness of debt as income because

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In 2015, Marie borrowed $11,000. In 2020, 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 2020. Required: What amount of income should Marie record in her tax return in relation to debt forgone? Income to be recorded

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