Consumer loans and debt consolidation products. Daytime TV adverts featuring high production values rather than the usual to camera delivery. Part of an overall through the line integrated campaign.
Question by : Does debt consolidation have to be reported in gross income?
If someone is paying an 18% tax rate on a credit card debt and then take out a loan to pay off the debt (and pay 10% interest)…does this debt consolidation need to be reported in gross income when filing your taxes?
Best answer:
Answer by wg0z
there is no income here.
What do you think? Answer below!
