It’s nearing October 15th, and for some of us (who weren’t quite ready six months ago and filed for an extension), taxes are on the brain. And as we near the end of the calendar year, next year’s taxes are worth thinking about, too.
With that in mind comes today’s article, discussing a positive line item from the new tax law. As you may remember from tax class in law school, not only is income taxable, but forgiven loans count as taxable income, too, in many cases. And some types of student loans can be discharged when the recipient becomes disabled. That forgiveness has been taxable before, but not under the new tax law!
Changes to Student Loan Death and Disability Discharge Tax Rules (via Forbes.com)
(hat tip to Terisa Page for pointing out this article)