Hmmm, it would appear that forgiven student loan amount is treated as income, complete with a 1099C, so whatever forgiven loan amount you have is tacked onto your taxable income for the year.
I have about $9500 in student loans, payments on which have been pushed back over and over again since COVID started. I think payments were supposed to start next month, actually....
That is consistent with what they do if a foreclosed property is sold for less than the outstanding mortgage amount in no-recourse states: the difference is treated as taxable income.
Hmmm, it would appear that forgiven student loan amount is treated as income, complete with a 1099C, so whatever forgiven loan amount you have is tacked onto your taxable income for the year.
I have about $9500 in student loans, payments on which have been pushed back over and over again since COVID started. I think payments were supposed to start next month, actually....
That is consistent with what they do if a foreclosed property is sold for less than the outstanding mortgage amount in no-recourse states: the difference is treated as taxable income.
This month. 3 days from now, actually.