Remember these top tax tips if your debts get cancelled
Roths Child Law
MARCH 12, 2021
Here are three to think about as you look into canceling out your debts. What can you do about forgiven debts in other forms? What that means is that you are expected to pay tax on that income, just like you would on income from a job. There are some exceptions that you should know, though. Your main home’s value could be excluded.
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