Answered

At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Discover precise answers to your questions from a wide range of experts on our user-friendly Q&A platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

Mario had $18,000 of student loans discharged in the current year. After the discharge, Mario had $8,000 in assets and no remaining liabilities. How much of Mario's student loan debt forgiven must be included in gross income

Sagot :

abiolataiwo2015

The amount of Mario's student loan debt forgiven that must be included in gross income is $10,000.

Mario's student loan debt

Using this formula

Student loan debt= Current year student loan discharge-Assets

Where:

Current year student loan discharge=$18,000

Assets=$8,000

Let plug in the formula

Student loan debt=$18,000-$8,000

Student loan debt=$10,000

Inconclusion the amount of Mario's student loan debt forgiven that must be included in gross income is $10,000.

Learn more about student loan debt here:https://brainly.com/question/26492094

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.