• ryathal
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      1 year ago

      General debt payments aren’t deductible, certain interest payments are allowed, like mortgages, but there’s a cap.

        • ryathal
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          1 year ago

          Debt never gets taxed, it’s not income. Debt forgiveness can be taxed as income though.

        • Astroturfed@lemmy.world
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          1 year ago

          That’s not a thing. Unless he was somehow laundering money through like cash mortgage payments and then refinancing cash out to spend.