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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

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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

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