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Real Estate Property Foreclosure and Cancellation of Debt

U S Internal Revenue Service
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      This guide discusses the tax consequences for real estate property that is disposed of through foreclosure, short sale, deed in lieu of foreclosure, and abandonments. Although, the term foreclosure is used throughout this document, the tax treatment also applies to short sales, deed in lieu of foreclosures, and abandonments. A discussion is also devoted to cancellation of debt income exclusions that are most commonly applicable to these types of dispositions and community property considerations. This guide primarily focuses on tax consequences for individual taxpayers. Keep in mind that the examples presented in this Audit Technique Guide are general examples and should not solely be relied upon for every situation as each fact pattern may change the tax consequences.
      Format: CONTRIBUTORS: U S Internal Revenue Service EAN: 9780359517145 COUNTRY: PAGES: WEIGHT: 195 g HEIGHT: 279 cm
      PUBLISHED BY: Lulu.com DATE PUBLISHED: 2019-03-17 CITY: GENRE: REFERENCE / General WIDTH: 216 cm SPINE:

      Book Themes:

      Encyclopaedias and reference works

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      This guide discusses the tax consequences for real estate property that is disposed of through foreclosure, short sale, deed in lieu of foreclosure, and abandonments. Although, the term foreclosure is used throughout this document, the tax treatment also applies to short sales, deed in lieu of foreclosures, and abandonments. A discussion is also devoted to cancellation of debt income exclusions that are most commonly applicable to these types of dispositions and community property considerations. This guide primarily focuses on tax consequences for individual taxpayers. Keep in mind that the examples presented in this Audit Technique Guide are general examples and should not solely be relied upon for every situation as each fact pattern may change the tax consequences.
      Format: CONTRIBUTORS: U S Internal Revenue Service EAN: 9780359517145 COUNTRY: PAGES: WEIGHT: 195 g HEIGHT: 279 cm
      PUBLISHED BY: Lulu.com DATE PUBLISHED: 2019-03-17 CITY: GENRE: REFERENCE / General WIDTH: 216 cm SPINE:

      Book Themes:

      Encyclopaedias and reference works

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      Be the first to write a review
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