Reduction in loan value when a loan is discounted from its original principal or charged off as a bad debt. As an example, a $100,000 loan, if discounted to $90,000, yields a debt forgiveness amount of $10,000. Under IRS rules that $10,000 is reportable as income to the borrower for loans discounted or charged off.
Debt Forgiveness
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- The Seibu Department Stores, Ltd. (Subsidiary Company)
- debt
- remission
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- Aris Industries, Inc.
- Year 1849 (in Science & Technology)
- Foreign Debt (Russian history)
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- Debt relief
- Capital account
- Mujeres Creando
- Mortgage Forgiveness Debt Relief Act of 2007
- Jubilee 2000
- Relief (disambiguation)
