Sup, iam Otto Harding, Asalam walekum.
How Does A Charge-Off Affect Your Taxes? [Solved]
In general, if you have cancellation of debt income because your debt is canceled, forgiven, or discharged for less than the amount you must pay, the amount of the canceled debt is taxable and you must report the canceled debt on your tax return for the year the cancellation occurs.29 Aug 2022
What does Charge Off mean on my Credit Report? Does Charged Off mean I don’t have to pay?
We discuss
What a “charge-off” is and How it Affects Debt Cases
You
Do I Have To Pay Back A Charged-Off Credit Card?
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