how to use ones debt as a tax benefit?
Date: Sun, 04/10/2005 - 07:02
how to use ones debt as a tax benefit?
I just joined and have looked around a bit and have not found a spot where you discuss how to use one's debt as a tax benefit. Whether there are or aren't benefits I would like to know if i can reduce my taxes or take an additional deduction for having been gotten into debt.
Thanks,
icfrivolity
Thanks,
icfrivolity
No Tax benefits
As I already mentioned in the other posts, if you are going for a debt reduction it will be counted as an income and you may have to pay extra taxes for it.
Vikas
Wow I didn't know that if you get a reduction it is counted as a
Wow I didn't know that if you get a reduction it is counted as an income...wow you learn something new every day!
