Uh oh. Get Ready. 1040, Line 21- Other Income

Someone with a Magnifying Glass in a blurb about the IRSUnder The Magnifying Glass

The IRS is taking a closer look at 1040’s, specifically Line 21 – OTHER INCOME. They are scrutinizing CoD’s aka “Cancellation of Debt”.  I’ll have more information for you by November. In the meantime, If you think this affects you, give me a call at 619-589-8680.