JimTaxes Posted April 17, 2018 Report Share Posted April 17, 2018 I know about exclusions on debt forgiveness, including insolvency, bankruptcy, etc.. what about this exception:. has anyone used this exception? seems vague.. cannot find specifics on who qualifies Currently, the U.S. tax code provides that discharges of loans can be excluded from income if the discharge was subject to a requirement that the borrower work in a certain field for a certain amount of time. 1 Quote Link to comment Share on other sites More sharing options...
Lee B Posted April 17, 2018 Report Share Posted April 17, 2018 I think the information is usually supplied to the employee by the employer, i.e. Medical professionals working in VA or BIA hospitals . 2 Quote Link to comment Share on other sites More sharing options...
Jim Oh Bkkr Posted April 17, 2018 Report Share Posted April 17, 2018 I had a school teacher (Kentucky) who qualified for this due to teaching in a certain area. Backed it out of income on Line 26 with the explanation "section 108(f)(1)" and it was never questioned for 10+ years. 2 Quote Link to comment Share on other sites More sharing options...
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