Recently Jill's investments have plummeted, and she can no longer make timely payments on her...
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Recently Jill's investments have plummeted, and she can no longer make timely payments on her debt obligations. As a result, the bank decided to forgive $ of debt that Jill owed. After the loan was discharged, Jill's total assets were $ and her total liabilities were $ What amount of the discharge of indebtedness must Jill include in her gross income? $ $ $ $ $ Deb was not solvent when the loan was discharged
Recently Jill's investments have plummeted, and she can no longer make timely payments on her debt obligations. As a result, the bank decided to forgive $ of debt that Jill owed. After the loan was discharged, Jill's total assets were $ and her total liabilities were $ What amount of the discharge of indebtedness must Jill include in her gross income?
$
$
$
$
$ Deb was not solvent when the loan was discharged
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