Multiple Choice
Deb has found it very difficult to repay her loans. Because of these difficulties, the bank decided to forgive one of her most recent loans, an amount of $45,000. After the loan was discharged, Deb had total assets of $232,000 and her remaining loans total$217,000. What amount must Deb include in her gross income?
A) $15,000
B) $28,000
C) $30,000
D) $45,000
E) Zero - Deb was not solvent when the loan was discharged
Correct Answer:
Verified
Correct Answer:
Verified
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