23 Be careful what you wish for: Biden's student loan "forgiveness" comes with a huge tax bomb (media.patriots.win) posted 83 days ago by doc4trump 83 days ago by doc4trump +23 / -0 10 comments share 10 comments share save hide report block hide child comments Comments (10) sorted by: top new old worst ▲ 3 ▼ – FudgyFudgeBots 3 points 83 days ago +3 / -0 Are we sure the loan forgiveness will happen or will they claim that the GOP blocked it? permalink save report block reply ▲ 2 ▼ – TEXinLA 2 points 83 days ago +2 / -0 Yup. Just like short sales (home mortgages). However, the IRS typically would not tax forgiven debt if the borrower's net worth was less than zero. permalink save report block reply ▲ 2 ▼ – Kramit 2 points 83 days ago +2 / -0 Nothing is free or forgiven in the financial realm ever. Always comes with a price.... Libs cannot grasp this concept permalink save report block reply ▲ 2 ▼ – Magamom 2 points 83 days ago +2 / -0 Then have legislators vote to cancel the tax liability. Legislate to give away everything including pelosi's purity and soul!! Give money to everyone except trump supporters! permalink save report block reply ▲ 1 ▼ – doc4trump [S] 1 point 83 days ago +1 / -0 Biden wants to forgive 10,000, Chuck 50,000, for most of us that won't make a dent and the tax bomb is no joke. permalink save report block reply ▲ 1 ▼ – Jaybone86 1 point 83 days ago +1 / -0 There should not be forgiveness. Get the fucking government out of student lending. permalink save report block reply ▲ 1 ▼ – JesusPay 1 point 83 days ago +1 / -0 It is still an 80% discount. permalink save report block reply ▲ 1 ▼ – BabyGlockgunslinger1 1 point 83 days ago +1 / -0 Yes but I’m pretty sure it’s due that year. Either you pay upfront or set up a plan with the irs, which will have its own interest. permalink parent save report block reply ▲ 1 ▼ – deleted 1 point 83 days ago +1 / -0 ▲ 1 ▼ – FucKamala 1 point 83 days ago +1 / -0 Lol i love it. Let all those retards that racked up $100k in student loans for their Liberal Arts degrees get wrecked with that tax bill permalink save report block reply
Are we sure the loan forgiveness will happen or will they claim that the GOP blocked it?
Yup.
Just like short sales (home mortgages).
However, the IRS typically would not tax forgiven debt if the borrower's net worth was less than zero.
Nothing is free or forgiven in the financial realm ever. Always comes with a price.... Libs cannot grasp this concept
Then have legislators vote to cancel the tax liability. Legislate to give away everything including pelosi's purity and soul!! Give money to everyone except trump supporters!
Biden wants to forgive 10,000, Chuck 50,000, for most of us that won't make a dent and the tax bomb is no joke.
There should not be forgiveness. Get the fucking government out of student lending.
It is still an 80% discount.
Yes but I’m pretty sure it’s due that year. Either you pay upfront or set up a plan with the irs, which will have its own interest.
Lol i love it. Let all those retards that racked up $100k in student loans for their Liberal Arts degrees get wrecked with that tax bill