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- Title
Real Estate & Passthrough Planning.
- Authors
Tucker, Stefan F.; Lencz, Norman; Masterson, Brian S.
- Abstract
The article examines the tax consequences of subsequent significant modification of debt to purchaser of discounted debt in the U.S. It states that purchaser of a debt at a discount that renegotiates the terms of the debt with the borrower can be in unenviable position of recognizing income from the renegotiation. It emphasizes that minor loan modification may be considered significant and may cause a buyer to recognize taxable income.
- Subjects
UNITED States; TAXATION; TAXATION of debt; VENDORS (Real property); INCOME tax; RENEGOTIATION
- Publication
Journal of Passthrough Entities, 2009, Vol 12, Issue 5, p25
- ISSN
1099-7407
- Publication type
Article