26 Aug 2022 2:50 pm
I agree 100%...you should read more of my post related to this topic.Buffalo » 26 Aug 2022, 2:32 pm » wrote: ↑ Under what legal/Constitutional authority did braindead biden have to **** hard working, taxpaying families with his edict wiping out of $600 BILLION in student debt?\
Borrowers that default on a debt are sent a 1099 form from the lender and have to declare it as income for tax purposes, Einstein.
However...as an FYI...not all debt forgiveness results in taxable income. Related to student loans, Congress set conditions (and put them in the loan documents) that allow for ways to have the debt forgiven and excluded from taxable income. However, a blanket forgiveness by POTUS is not one of them...so even it this isn't struck down in court it will be taxable income. Prepare for the whining...