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In most cases, you must report canceled debt as ordinary income on your federal tax return — even if the debt was less than $600 and you never received a Form 1099-C. List your canceled debt on ...
Therefore, a cancellation of a $20,000 debt will not need to be reported as gross income. However, if a debt of $60,000 was cancelled, the taxpayer will have $10,000 in gross income because their total liabilities no longer exceed their total assets (cancelling $60,000 in debt means the taxpayer now has only $40,000 in liabilities).
After 1954, the Korean Service Medal was no longer issued although the Armed Forces Expeditionary Medal was authorized for Korean area service between October 1, 1966, to June 30, 1974. As of 2004, a new medal known as the Korea Defense Service Medal was authorized for members of the armed forces who served in the defense of the Republic of ...
The IRS considered canceled debt income because you didn’t repay a loan you originally agreed to pay back. If you received a cancelation of debt from your personal loan lender through a 1099-C ...
The Korea Defense Service Medal is a bronze medal 1 + 1 ⁄ 4 inches (32 mm) in diameter. The obverse bears a Korean "circle dragon", surrounded by a scroll inscribed KOREA DEFENSE SERVICE. In an earlier design of the medal, the scroll is inscribed KOREA DEFENSE SERVICE MEDAL. At the base of the medal are two sprigs, laurel on the left and ...
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The Korean War Service Medal (KWSM, Korean: 6.25사변종군기장, lit. ' "June 25th Incident Participation Medal" '), also known as the Republic of Korea War Service Medal (ROKWSM), is a military award of South Korea which was first authorized in December 1950.
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