$22.50 - Foreclosures and Debt Cancellation E-book (2017) – PDF Version - #E4716 - Premium
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$33.30 - Foreclosures and Debt Cancellation E-book (2017) – PDF Version - #E4716 - Basic
$35.00 - Foreclosures and Debt Cancellation E-book (2017) – PDF Version - #E4716 - Nonmember
Table of Contents.
Taxpayers may find themselves unable to repay home mortgages, credit card debt or other personal or business loans. Foreclosures can be an unfortunate occurrence during situations like these. Naturally, this event is emotional for taxpayers, and they look to their tax professional for guidance on how this affects their tax situation. When a foreclosure occurs, the result is a deemed sale of the property. If the creditor cancels the debt, the debtor may or may not have to recognize income. This textbook guides you through the rules for foreclosures, explains how to include or exclude income from debt cancellation on the debtor’s tax return and explores the effect of excluding canceled debt on the taxpayer’s other tax attributes.
Foreclosures and Debt Cancellation covers:
Level: Basic level
Author: NATP Staff
Publication Date: 2017 - Textbook has been reviewed and content is accurate for 2018
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