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No slabs, no deductions, no exemptions, no incentives and no allowances.No distinction in kind and transfer pricing income source. I've had clients ask me try to to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) to enhance to do such an issue. Just like your employer ought to be required to send a W-2 to you every year, a lender is needs to send 1099 forms to every borrowers who have debt forgiven.

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