Wednesday, April 17, 2013

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Taxpayer A borrows $10,000 from Bank X in 2006. When the loan comes due in 2007, The Mortgage Forgiveness Debt Relief Act of 2007 (Pub. Law 110-142) • Created a new exclusion under sections 108(a)(1)(E) • Differences in tax consequences for recipient. General Rule: COD income is taxable ... Return Doc

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