What amount of income should record in tax return

Reference no: EM131924087

Question: In 2011, Marie borrowed $10,000. In 2016, the debt was forgiven. Marie does not believe she should report the forgiveness of debt as income because she received nothing at the time the debt was forgiven in 2016. What amount of income Marie should record in her tax return in relation to debt forgone?

Reference no: EM131924087

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