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Kaycee's employer loaned her $10,000 in February of the current year. Kaycee remitted loan payments (principal and interest) via payroll deductions. For the current year,
Kaycee's employer loaned her $10,000 in February of the current year. Kaycee remitted loan payments (principal and interest) via payroll deductions. For the current year, Kaycee's sales record exceeded expectations. As a demonstration of appreciation, her employer forgave the outstanding loan balance of $2,000. How much must Kaycee include as taxable income from the loan from her employer? $0 $2,000 $8,000 $10,000
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