Posts Tagged ‘Student Loan’


How to Use a Roth IRA to Purchase Your First House

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It can be difficult for younger people to save up to purchase their first house.  Paying rent, making a car payment and perhaps paying off a student loan can drain your cash flow. While a Roth IRA is designed to be used for retirement one possible use would be to use a Roth IRA for the down payment on your first … Continue reading »


When is Cancelled or Forgiven Debt Taxable?

If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. This type of debt includes mortgages, credit cards, car loans and student loans. Lenders are required to send Form 1099-C, Cancellation of Debt, when they cancel any debt of $600 or more. The amount cancelled will be in box 2 of the form. If you disagree with the amount reported contact your lender to work out any discrepancies … Continue reading »