tax

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Posted by jack (143.165.201.47) on October 30, 2002 at 12:22:36:

I had a debt of $10,500 which I negotiated to settle for $5,000 last month. I have read that any debt waved for more than $600 is considered taxable income in the IRS' eyes. Can someone tell me what amount will be taxable in my case?

Thank you

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