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The amount forgiven is counted as income for that year and is taxed as such. I believe this is what the preceding commenter was asking about.
by mrestko 11y ago
The amount forgiven is counted as income for that year and is taxed as such. I believe this is what the preceding commenter was asking about.
- hodoublesy 11y agoThere are various repayment options available, some incur a tax burden and some do not. The PSLF option does NOT incur a tax burden after 120 payments. It would be smart to research each option available to see what is best for your circumstance.
- mrestko 11y agoI was not aware of that. Thanks for clarifying.