The excerpt below shows the serious tax implications of Debt Negotiation and Reduction on Real Estate that are often overlooked it the process.
To add insult to injury, owners of distressed property may realize gross income and incur tax liability from a real estate debt workout with a lender. Fortunately, certain provisions under the Internal Revenue Code, including new legislation, exempt certain debt relief income from taxation or permit deferral of such income.
See the whole article here:
http://www.globest.com/news/1504_1504/florida/181256-1.html
No comments:
Post a Comment