Hello guys, Welcome to Africa's Largest Video Search Engine, and you are watching Cancelled Debt Income is Taxable! Use IRS Form 982 to Reduce Taxes on COD Income. and this video is uploaded by Jason D. Knott at 2021-08-13T15:00:18-07:00. We are just promoting this video only for entertainment and educational purpose only. I hop you like our Video Search Engine. [tC25zpKYdLA]
| Name | Cancelled Debt Income is Taxable! Use IRS Form 982 to Reduce Taxes on COD Income |
| Video Uploader | Video From Jason D. Knott |
| Upload Date | This Video Uploaded At 13-08-2021 22:00:18 |
| Video Discription | For a 2023 update: https://youtu.be/6Rt2oV1JldM For a 2022 update: https://youtu.be/lTgNjG6nEyk If you received Form 1099-C during the year, that is taxable income! Believe it or not, canceling debts is taxable income to a U.S. taxpayer, so it must be reported on your tax return. In certain cases, however, you might be able to exclude that income from your gross income. One of the easiest methods is to claim you are insolvent. Use Form 982 to claim insolvency. For a larger database of tutorials, please visit our website and search for your question: https://knottlearning.com/ DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials. #IRSform982 #Form982 #CancelledDebts [tC25zpKYdLA] |
| Category | Education |
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