n 2021 Betty loaned her son, Juan, $10,000 to help him buy a car. In 2023 ,

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n 2021 Betty loaned her son, Juan,

$10,000

to help him buy a car. In 2023 , before he repaid the

$10,000

, Betty Juan that she was "tearing up" the

$10,000

note as a graduation present. How should Juan treat the amount forgi\ A. taxable income in year of forgiveness\ B. excludible gift in year of forg)veness\ C. taxable income in year of loan\ D. excludible gift in year of loan

Posted Date: May 24, 2024 05:11 AM

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n 2021 Betty loaned her son, Juan, $10,000 to help him buy a car. In 2023 ,

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