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Jane has incurred $75,000 of student loan debt during her studies. She obtains a law degree and goes to work for a commercial real estate
Jane has incurred $75,000 of student loan debt during her studies. She obtains a law degree and goes to work for a commercial real estate firm in Baltimore. In addition to her standard business law assignments, she is active in the firms pro bono clinic, through which she spends time representing low income clients. Jane ultimately is able to obtain a cancellation of her student loan debt through the Department of Education. What are the tax consequences of this debt forgiveness?
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