ASSUME NO PEACE - Discharge Debt
Box #1 gets summed up on a Schedule B and ends up on Line 8a of your 1040 as income. Box #4 ends up on Line 64 of your 1040. $100,000 in income leaves approximately 2/3rds of that yours; if $90,000 was withheld, you get back about $57,000. If you had fractionalized with at least one other credit card you would have gotten back your whole $100,000+. ................
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