loan canceled is that income?
This is a discussion on loan canceled is that income? within the Other Business & Finance Law Issues forum, part of the BUSINESS & FINANCE LAW category; If our small company has its loan canceled (i.e. so we don't have to pay it back) is that income ...
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Sep 25th, 2009, 10:15 AM
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loan canceled is that income?
If our small company has its loan canceled (i.e. so we don't have to pay it back) is that income to the company?
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Sep 25th, 2009, 07:54 PM
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#2 |
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Re: loan canceled is that income?
Yes if the creditor reports it it will be income.
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