tax on forgiven interest
Date: Mon, 05/03/2010 - 02:13
do you pay tax on forgiven interest?
Quote:Originally Posted by Anonymousdo you pay tax on forgiven i
Quote:
Originally Posted by Anonymous do you pay tax on forgiven interest? |
When the creditor forgives certain amount of debt, it becomes taxable income for the debtor, and yes, you're required to pay tax on it, unless you qualify for 'pauper's affidavit '.
