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Posted on Oct 01, 2024

Mike, a single taxpayer, has $ 1 0 , 0 0 0 of student loans forgiven in 2 0 2 3 under a federal student

Mike, a single taxpayer, has $

10, 000

of student loans forgiven in

2023

under a federal student loan forgiveness program. His total student loan balance was $

34, 000 .

His

2023

AGI is $

55, 000 .

How much cancellation of debt income will Mike need to recognize in

2023 ?

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