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My father is 81. because of his generosity to relatives, he

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Question : my father is 81. because of his generosity to relatives, he has accumulated $35,000 in credit card debt. we are considering a debt settlement service, but I understand he may receive a 1099-c for the cancelled debt amount of approximately $17,500. Will he need to pay taxes on the 1099-c amount?<br/>JA: Was this […]

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