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Recently Jill's investments have plummeted, and she can no longer make timely payments on her...

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Accounting

Recently Jill's investments have plummeted, and she can no longer make timely payments on her debt obligations. As a result, the bank decided to forgive $45,000 of debt that Jill owed. After the loan was discharged, Jill's total assets were $232,000 and her total liabilities were $217,000. What amount of the discharge of indebtedness must Jill include in her gross income?
$15,000
$45,000
$30,000
$28,000
$0- Deb was not solvent when the loan was discharged

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