Business, 16.01.2020 21:31 ramos2019

Marvin received form 1099-c reporting canceled credit debt of $7,000. his total liabilities immediately before the cancellation were $43,000. the fmv of assets immediately before the cancellation were $38,000. what amount of canceled debt will marvin report on his return? a. $0b. $2,000 c. $5,000

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Marvin received form 1099-c reporting canceled credit debt of $7,000. his total liabilities immediat...

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