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Level 1
March 2, 2022
Question

Student Loans - Cacellation of Debt

  • March 2, 2022
  • 1 reply
  • 5 views

For 2021, Is the income from 1099- C Cancellation of Debt from Students Loans from private lenders taxable?

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1 reply

qbteachmt
Level 15
March 2, 2022

Was it for public service? Or, for health care in an underserved area (debt subsidy)?

Was it because the student is disabled or died?

Was it because the person filed for bankruptcy?

Was it for one of the for-profit school scandals?

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