does a taxpayer have taxable income from debt that was cancelled in a decedents will?...
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Accounting
does a taxpayer have taxable income from debt that was cancelled in a decedents will?
A) No, but only if the amount of the cancelled debt is not more than $14,000
B) No regardless of the amount canceled.
C) Yes but only if the amount of cancelled debt is less than $14,000
D) No, but only if the debts was recourse.
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