Debt Distance is the cancellation of a debt. Debt discharge results in taxable income to the debtor unless the forgiveness is a gift or bequest. When a debt is discharged by an institution, the debtor will usually receive a Form 1099-C that shows the amount of debt forgiven. The debtor must then report this as miscellaneous income on the 1040.
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|07:00||Economy Watchers Survey||Nov|
|08:30||BOE Deputy Governor for Financial Stability Jon Cunliffe Speaks|
|08:30||BOC Deputy Governor Timothy Lane Speaks|