Statements (23)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:United_States_federal_law
|
| gptkbp:applicableEntitiesInclude |
credit unions
financial institutions federal government agencies other organizations conducting lending |
| gptkbp:appliesTo |
applicable entities
|
| gptkbp:codifiedIn |
26 U.S.C. § 6050P
|
| gptkbp:dateEnacted |
1984
|
| gptkbp:enforcedBy |
gptkb:Internal_Revenue_Service
|
| gptkbp:excludes |
certain student loans
bankruptcy discharges non-recourse loans |
| gptkbp:filingMethod |
gptkb:Form_1099-C
|
| https://www.w3.org/2000/01/rdf-schema#label |
Section 6050P
|
| gptkbp:partOf |
gptkb:Internal_Revenue_Code
|
| gptkbp:purpose |
to ensure taxpayers report canceled debt as income
|
| gptkbp:relatedTo |
gptkb:Form_1099-C
gptkb:IRS_regulations cancellation of debt income |
| gptkbp:requires |
information reporting of cancellation of indebtedness
|
| gptkbp:triggeredBy |
discharge of indebtedness of $600 or more
|
| gptkbp:bfsParent |
gptkb:US_Taxation_of_International_Income
|
| gptkbp:bfsLayer |
7
|