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05 Apr

Another basis for student loan borrowers to exclude cancellation – of – debt (COD) income is that they are insolvent

Another basis for student loan borrowers to exclude cancellation – of – debt (COD) income is that they are insolvent To determine the insolvency amount (liabilities in excess of assets) the IRS takes into consideration all assets owned by the taxpayer including bank accounts, investments, real estate, business ownership, and retirement savings The exclusion does

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