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- If a client received a reimbursement for a student loan forgiveness, is it taxable?
If a client received a reimbursement for a student loan forgiveness, is it taxable?
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glorian
Level 1
2 weeks ago
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The client did not receive a 1099-C nor a letter, is the amount taxable?
3 Comments 3
IRonMaN
Level 15
2 weeks ago
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Maybe. Maybe not. You need to do a little homework on who and why the reimbursement came through.
Slava Ukraini!
glorian
Level 1
2 weeks ago
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They did not receive a letter just the check from the IRS. There is a 1-800 number could I call or would the client need to call?
IRonMaN
Level 15
2 weeks ago
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The IRS doesn't tend to be in the student loan forgiveness business and loans aren't typically forgiven by someone receiving a check for the money they owed. I think you have some homework to do to figure out exactly what you are dealing with.
Slava Ukraini!
