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Student Loan Discharged? You may owe the IRS!

Valued Contributor

Student Loan Discharged? You may owe the IRS!

http://gma.yahoo.com/jersey-womans-student-loan-debt-creates-tax-nightmare-134134842--abc-news-topst...

 

Unless you can prove insolvency PRIOR to the discharge and/or cancellation of student loans you WILL get a 1099-C and will be taxed. 


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
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Valued Contributor

Re: Student Loan Discharged? You may owe the IRS!

Ouch.

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