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Deductions & credits
The SECURE Act of 2019 changed the law to allow loan debt of the beneficiary's siblings to be paid off tax-free as well. Unless I'm reading it wrong? And if I don't report it, isn't the IRS going to come back and contest that as they do with missing 1099-NEC and -MISC income? - Based on your quote of instructions above, it appears not!
March 6, 2021
7:01 AM