Re: Debt written off by OC= no righ << Even if it's interest and late fees, it is still money that you owed and didn't pay. Hedwig ============================ That is correct but I don't see it as income. ****************************************************** [color=goldenr
Re: Debt written off by OC= no righ << Even if it's interest and late fees, it is still money that you owed and didn't pay. Hedwig ============================ That is correct but I don't see it as income. ****************************************************** [color=goldenr
Re: Debt written off by OC= no righ Even if it's interest and late fees, it is still money that you owed and didn't pay. Hedwig ============================ That is correct but I don't see it as income. http://www.send4fun.com/telephone.htm ****************************************************** ******************************************************* >
Re: Debt written off by OC= no righ Forgiven debt is considered as income, because it's something you owed and have been forgiven. This is the same as giving you the money. Remember that income doesn't necessarily mean wages. It means money that is coming in to you. Just the same as some benefits from your employer (life insurance over a certain amount, tuition for courses not job related, some relocation costs) are considered income, even though you didn't get cash. You got a benefit from it, just as you get a benefit from forgiven debt.
Re: Debt written off by OC= no righ 1*Forgiven debt is considered as income, because it's something you owed and have been forgiven. This is the same as giving you the money. 2*Remember that income doesn't necessarily mean wages. It means money that is coming in to you. Just the same as some benefits from your employer (life insurance over a certain amount, tuition for courses not job related, some relocation costs) are considered income, 3*even though you didn't get cash. You got a benefit from it, just as you get a benefit from forgiven debt. ============================ 1*This would be true on the principal but not on the intrest. 2* 3*Again this is only correct concerning the principal.
Re: Debt written off by OC= no righ 1*Forgiven debt is considered as income, because it's something you owed and have been forgiven. This is the same as giving you the money. 2*Remember that income doesn't necessarily mean wages. It means money that is coming in to you. Just the same as some benefits from your employer (life insurance over a certain amount, tuition for courses not job related, some relocation costs) are considered income, 3*even though you didn't get cash. You got a benefit from it, just as you get a benefit from forgiven debt. ============================ 1*This would be true on the principal but not on the intrest. 2* 3*Again this is only correct concerning the principal.
