Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Inheritance/gift reporting"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]OP again.. Instead of focusing on form 3520, can someone answer how this would be handled in the US for an individual taxpayer? If money owed to me is received across multiple years, should it be recognized in year 1? e.g. A decision is made by a lender in March 2025 to forgive my debts. Specific forgiveness resolutions/approval are passed in 2025 for cash loans and for asset loans in 2026. Should the entire value of the forgiven debt be recognized as income in 2025 or just the cash portion in 2025? (Hope this scenario makes sense. Not an accountant). [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
