Getting Rid Of Tax Debts In Bankruptcy: Difference between revisions

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Revision as of 08:59, 8 January 2025

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Let's say you paid mortgage interest to the tune of $16 hundred. In addition, you paid real estate taxes of 5 thousand $. You also made gift totaling $3500 to your church, synagogue, mosque or some other eligible . For purposes of discussion, let's say you reside in a declare that charges you income tax and you paid 3300 dollars.

Julie's total exclusion is $94,079. On her American expat tax return she also gets declare a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. income tax.

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While Not able to tell you the specific impact that SBA debt forgiveness will dress in you, the of my article is actually just to recognize that loan forgiveness does potentially have tax consequences that a borrower search into to ensure that they can improve most informed decision straightforward.

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