![Q&A: Do I Owe Tax When I Settle Credit Card Debt with Collectors? image](https://media.zencastr.com/cdn-cgi/image/width=640,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
E17 · The Women's Investor Community Podcast
Q&A: Do I Owe Tax When I Settle Credit Card Debt with Collectors?
48 Plays
5 months agoA listener asks: In 2023, I settled large credit card debts with collectors. I’ve heard that forgiven debt can be treated as taxable income. What should I expect this year on my taxes?
This episode explains the general rule but then outlines two exceptions that could provide some tax relief for credit card debt settlement.
Recommended
![Reminder: Quarterly Estimated Tax Payments Due This Monday image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
22
![Q&A: Are There Good Real Estate Investments Right Now? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
30
![Q&A: How Do I Keep My Business Credit and Personal Credit Separate? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
33
![Q&A: How Do I Help My Son With His Debt? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
38
![Q&A: Should I Choose the Roth or Traditional 401(k) at Work? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
39
![Reminder: Quarterly Estimated Tax Payments Due This Monday image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
38
![Reminder: Roth IRA Contributions for 2023 Due April 15 image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
35
![Q&A: How Do I Find A Financial Advisor? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
42
![Reminder: Federal Income Tax Return and Payment Due April 15 image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
39
![Unpacking: How Much Should I Save for Retirement? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
49
![Unpacking: Do I Need to Worry About the Corporate Transparency Act? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
52
![Forty Day Break - Baby on the Way! image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
36
![Q&A: How Do I Navigate Divorce When My Home Is My Only Asset? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
49
![Reminder: Quarterly Estimated Tax Payments Due This Tuesday image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
39
![Q&A: How Should I Raise Money For My Startup? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
44
![Q&A: Should My Husband and I Hold Investment Real Estate Inside Our Trust? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
37
![Q&A: What Is Tax-Loss Harvesting? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
49
![Q&A: My Brother and I Inherited a Home. What Should I Do? image](https://media.zencastr.com/cdn-cgi/image/width=90,quality=85/image-files/647889be252f1065bd56fabd/687fef62-b0b5-4a56-af66-e069c5b4c435.png)
59