cod income and secured debt

Debt Forgiveness - CBIZ
COD income will be excluded if the taxpayer is a debtor in a federal . QPRI is secured debt used to acquire or substantially improve real property used in a .
http://www.cbiz.com/page.asp?pid=7462

New York Law Journal
cancellation of indebtedness income (COD income) in the context of restructuring or . allocated to T one-third of ABC's secured recourse debt. T filed a chapter .
http://www.proskauer.com/files/News/2e4113d4-39e3-4e4f-b967-21bd361b1759/Presentation/NewsAttachment/266feff6-b6a8-47f8-aec8-22c38700d52e/Proskauer%20060311%20NYLJ%20-%20Fass%20(BYLINE%20Real%20Estate%20Workouts%20III)%20-%20Posted%20Version.pdf

reconciling credit card discounts

Tax Consequences of Canceled Debt
Cancellation of debt income is taxable as ordinary income. . 1099-A, Acquisition or Abandonment of Secured Property, and Form 1099-C, Cancellation of Debt.
http://www.irsvideos.gov/CanceledDebt

Help with paying your COBRA premiums

TaxAlmanac - A free online tax research resource and community ... COD income for those debts is required to be recognized at the time that . Secured debt usually must be current while in a Chapter 13 - this is . http://www.taxalmanac.org/index.php/Discussion:Chapter_13_(or_insolvency)_and_COD_reduction_of_attributes OCBJ advertorial - July 2010 Cancellation of Debt: Taxable Income Impact . involving the cancellation of debt (COD). Although . million of secured debt, has a current fair market value of $6 . http://www.hmwccpa.com/pdf/OCBJ%20advertorial%20-%20July%202010.pdf Tax Talk For Tough Times: A Primer On Cancellation Of Debt And ... from the debt that the property secures, the nature of the debt is important in determining whether there is COD income and therefore whether any of the income . http://www.smithlaw.com/publications/Rogers_publication1.pdf Taxes | Central District Insider Mar 2, 2012 . The POC may report $5000 of secured debt, and this secured debt will . IRS can' t assess the tax on COD income until either the taxpayer . http://www.centraldistrictinsider.com/category/taxes/ Cancellation of Debt Income Exceptions - Financial Web Cancellation of Debt (COD) provides actually provides a tax payer with a form of income. . This is a form of income, but it is not taxed because the. . scenarios, the taxpayer must be liable for the debt and it must be secured against a property. http://www.finweb.com/taxes/cancellation-of-debt-income-exceptions.html Taxation of Canceled Debt, Including Foreclosures and Short Sales COD Income = Canceled Debt Amount - FMV. There may also be a tax on capital gains on the forced sale of property securing a debt. Although it may seem . http://thismatter.com/money/credit/debt/taxation-of-canceled-debt.htm Taxation of abandonments, foreclosures and repossessions When property that secures a debt is abandoned by voluntary or involuntary . of the debt, the forgiven portion is cancellation of debt (COD) income and may be . http://www.journalofaccountancy.com/Issues/2012/Mar/20114907.htm Senate Repeals Stock-for-Debt Exception Could Change the Way ... Jul 1, 1993 . While, as a general rule, gross income includes COD income, as a matter . of the secured realty is reduced by the amount of the debt forgiven. http://www.turnaround.org/Publications/Articles.aspx?objectID=2518 Cancellation of debt income Cancellation of debt (COD) income is a term used in the US to describe the . go wider as eurozone debt crisis re-erupts · Demand for secured debt drives . http://www.creditflux.com/Glossary/Cancellation-of-debt-income/ Reducing Tax Attributes Due to Canceled Debt Income Exclusion COD income is excludable from gross income if the debt cancellation occurs in a . result, in a bankruptcy case, a debt secured by real property is considered . http://fogelcpa.com/Documents/CSEA-Fogel-ReducingTaxAttrib.pdf For more details, see the cod route consult order card credit.

Real property foreclosures require careful planning to avoid ...
Mar 15, 2011 . On the other hand, nonrecourse debt is debt that is secured solely by the . gains while those involving recourse debts generate COD income.
http://www.wipfli.com/BlogPost_Tax_prop_foreclosures_consequences_031511.aspx

University of Florida Levin College of Law
A FIELD GUIDE TO CANCELLATION OF DEBT INCOME . 7 Id. Residential real estate loans include loans secured by one- to four-family properties, including .
http://www.dianedrain.com/RealProperty/TrusteeSalesForeclosures/TRUSTEESALEArticlesLinks/Cancellation%20of%20Debt%2010-09.pdf

Real Estate Accounting Potpourri - Moss Adams Wealth Advisors
Income from discharged debt is COD or cancellation of indebtedness income. • Exceptions IRC . trade or business, and that is secured by such real property, or .
http://www.mossadamswealthadvisors.com/mossadams/media/Documents/Publications/Construction/Real-Estate-Potpourri.pdf?ext=.pdf

What Does and Does Not Constitute Cancellation of Debt Income
forgiveness income, or COD income, is the product of the amount of debt that a lender . indebtedness secured by the residence and incurred in the acquisition, .
http://www.dbc-llp.com/images/article_0312_2.pdf

Are you eligible for COBRA?

Preparing Income Taxes - Reporting the Cancellation of Debt
Sep 11, 2009 . Preparing Income Taxes - Reporting the Cancellation of Debt . Similarly, in the case of recourse debt secured by abandoned property, .
http://ezinearticles.com/?Preparing-Income-Taxes---Reporting-the-Cancellation-of-Debt&id=2909535

Real Estate Short Sale vs. Foreclosure Tax Consequences
Feb 13, 2012 . If the debt is “nonrecourse,” the debt is only secured by the property, and the debtor is . (1) Cancellation of debt income eligible for exclusion.
http://www.realestateinvestingtax.com/shortsale.shtml

Los Angeles Business Journal Foreclosures Generate Taxable ...
The general rule is that cancellation of debt creates income to the borrower in the . The RTC has liquidated billions of dollars of loans secured by real estate.
http://www.taxlitigator.com/articles/161341.htm

Knowing the tax implications of debt workouts | Smart Business
Feb 1, 2012 . Debt-for-equity exchanges may also result in COD income when the . When the original seller agrees to reduce debt secured by property of .
http://www.sbnonline.com/2012/02/knowing-the-tax-implications-of-debt-workouts/

• Sect. 108 and Cancellation of Debt Income: Navigating IRS Rules
  Apr 20, 2011 . 108 and Cancellation of Debt Income: Navigating IRS Rules. Deferring Tax Under This Complex Code Section and Under Latest Guidance .
  http://media.straffordpub.com/products/sect-108-and-cancellation-of-debt-income-navigating-irs-rules-2011-04-20/presentation.pdf

• Income Taxes on the Abandonment, Foreclosure or Repossession ...
  Aug 29, 2005 . If there is a debt that secures the property, such as a mortgage loan, and . Income resulting from the cancellation of debt related to business or .
  http://www.googobits.com/articles/2340-income-taxes-on-the-abandonment-foreclosure-or-repossession-of-property.html

• redirected from Non-recourse debt - Financial Dictionary - The Free ...
  Definition of Non-recourse debt in the Financial Dictionary - by Free online . securing the debt) resulted in cancellation of indebtedness (COD) income to the .
  http://financial-dictionary.thefreedictionary.com/Non-recourse+debt

• TAX PLANNING STRATEGIES FOR LOAN WORKOUTS AND REAL ...
  Additionally, when a lender agrees to modify the property's debt in a loan workout , . COD Income is not realized for that portion of the foreclosure classified as a . When the lender forecloses on real estate secured by a recourse promissory .
  http://www.rablegal.com/Tax-Planning.shtml

COBRA coverage periods
Qualifying event	Beneficiary eligible for COBRA	Maximum coverage time
·  Voluntary or involuntary termination of job other than gross misconduct ·   Reduced hours	Employee Spouse Dependent child	18 months
·  Total disability	Employee	29 months
·  Employee entitled to Medicare ·  Divorce or legal separation ·  Death of employee	Spouse Dependent child	36 months
·  Loss of dependent-child status	Dependent child	36 months

A Field Guide to Cancellation of Debt Income
residential real estate loans include loans secured by one- to four-family properties, including . The Origins of the Income from Cancellation of Debt Principle .
http://papers.ssrn.com/sol3/Delivery.cfm?abstractid=1465002

Y ou got this of http://C ase.tm ff
a shield i) Non-recourse secured: under circumstance there is no COD income to a solvent taxpayer if the debt undersecured and the debt is reduced to the fair .
http://case.tm/Lawschool/taxbr.pdf

Overview on Bankruptcy for the Family Farmer
income and unsecured debt less than $307675 and secured debt less than . income"). The timing of the debt discharge and COD income is usually the .
http://law.psu.edu/_file/aglaw/Family_Farm_Bankruptcy.pdf

TAX CONSEQUENCES OF FORECLOSURE AND SHORT SALES ...
1) There is cancellation of debt (COD) income. 2) There is . the fifth way to exclude COD income. . 1099-A, Acquisition or Abandonment of Secured Property.
http://www.kazv.net/uploads/8/5/3/0/8530330/tax_consequences_of_foreclosure_and_short_sales.pdf

Tax Issues on Debt Workouts
Cancellation of indebtedness income if debt is recourse . than the full amount of the debt, COD income is . Secured by real property – certain mezzanine .
http://reznickrestructuringsolutions.com/pdf/rrs_tax_issues_debt_workout.pdf

Your COBRA coverage ends when:

• Tax Issues for Investors in Distressed Debt
  Lower Middle Market Deals - Volume and Debt Ratios Down, Valuations Stable . third-party distressed debt, often with an eye towards ultimately securing ownership of . In addition, for COD income occurring in 2009 or 2010, newly enacted .
  http://www.imakenews.com/mercator/e_article001403237.cfm?x=b11,0,w

• Real Estate, Land Use and Environmental Law Blog : Real Estate ...
  Feb 27, 2009 . The deferral election generally applies fairly broadly to COD income that . discharge a secured debt by delivering a deed in lieu of foreclosure.
  http://www.realestatelanduseandenvironmentallaw.com/new-rules-and-legislation-new-cancellation-of-indebtedness-deferral-election-may-not-cover-deedinlieu-transactions.html

• Tax Consequences of Foreclosure - Avvo.com
  Debt used to acquire, build, or improve a main residence and is secured by that . Seller-financed debt: If COD income comes from seller-financed debt .
  http://www.avvo.com/legal-guides/ugc/tax-consequences-of-foreclosure

• How does debt forgiveness impact taxable income? Cashflow ...
  Cancellation of Debt (COD) income: the difference, in a foreclosure, between the . the borrower's default on the debt is against the property securing the debt.
  http://www.lindakeithcpa.com/ask-linda/cancellation-of-debt-income.htm

• No-sweat workouts: avoiding taxes on commercial loan restructuring ...
  Vote; When the lender forecloses on real estate secured by a recourse promissory . Converting nonrecourse debt to recourse debt can create COD income .
  http://findarticles.com/p/articles/mi_m0ICC/is_10_77/ai_n32411600/

• Debt settlement | How does debt settlement work
  Debt settlement can eliminate or reduce credit card and other debts. . This forgiven debt, which is then known as cancellation-of-debt (COD) income, may be taxable as . You can even use your savings account and get a secured credit card.
  http://www.needhelppayingbills.com/html/debt_settlement_.html

Plan selection

More on COBRA

code of federal regulations car loan cognitive credit card examples cofi mortgage index

Tax Preparation «
For purposes of relief under the cancellation of debt income rules, you are . like your credit cards), the amount of nonrecourse debt (secured debt, like a .
http://taxadvisors4you.com/blog/index.php/category/tax-preparation/

Taxation of Foreclosures and Short Sales - California Short Sales
This is also referred to as "cancellation of debt" (COD) income. . improvement loans, equity lines of credit, and loans other than seller financing, securing a debt .
http://www.shortsalescalifornia.org/realtors/legalqas/taxation/

- M42. A real estate limited partnership owns an apartment project in ...
Here, the partnership has both COD income that is attributed to the business activity of the partnership (i.e. forgiveness of a debt secured by a partnership asset .
http://www.michigan.gov/taxes/0,4676,7-238-47449-187759--F,00.html

QRPBI Exception Calculations | CCIM Institute
First, the QRPBI exception limits the COD income amount that can be excluded . the discharge) over the current market value of the property securing the debt.
http://www.ccim.com/cire-magazine/articles/qrpbi-exception-calculations

When Restructuring Debt Be Sure to Be Aware of Potential Tax ...
In most cases, income from cancellation of debt—called “COD income” in tax . The debt is secured solely by the debtor's home with a fair market value of .
http://www.gfdg.com/Legal-Articles/when-restructuring-debt-be-sure-to-be-aware-of-potential-tax-consequences.html

TaxAlmanac - A free online tax research resource and community ...
Feb 24, 2011 . But isn't the whole point that COD income isn't obviously "income from real property" just because the debt canceled was secured by real .
http://www.taxalmanac.org/index.php/Discussion:Sourcing_COD_income_on_nonresident_rental

Health plans subject to COBRA are:

• Options for Defaulting Property Owners: The Legal and Tax ...
  property is less than the secured debt, or because the owner can no longer make the . (COD) income with other ordinary income, and which may or may not be .
  http://www.mallerydemariapc.com/pdfs/optionsdefaultinghomeownershandout.pdf

• Cancellation of Debt Income
  Will I owe taxes on this cancellation of debt income (CODI)? Read full . I realize your cancellation of debt income question is not related to a mortgage, but I am .
  http://www.bills.com/cancellation-of-debt-income/

• BXMagazine.com - Cancellation of debt income
  Gross income generally includes income realized by a debtor from the cancellation of debt (COD) subject to certain exceptions. Where COD income is excluded .
  http://www.bxmagazine.com/article.asp?ID=1062

• Income From Cancellation of Debt – Assets101.com
  Income From Cancellation of Debt. INCOME FROM CANCELLATION OF INDEBTEDNESS. by Robert Swaim, Accountant and Enrolled Agent | 2009. Share .
  http://assets101.com/articles/incomedebtcancellation/

• Tax Consequences for Foreclosure or Short Sale of Rental ...
  forgiveness or cancellation of debt. . debt secured by your main home. . For non-recourse loans, there is no cancellation of debt income to be reported.
  http://www.galaxycompetition.com/Business%20Website/Backgrounds/Rental%20Properties%20and%20Taxes.pdf

• Big Business | California Franchise Tax Board
  The Form 1099A,Acquisition or Abandonment of Secured Property, is issued when a . The 1099C, Cancellation of Debt, is issued once the creditor abandons their . have cancellation of debt (COD) income, and potentially a reportable gain , .
  http://www.ftb.ca.gov/professionals/taxnews/2009/October/Article_11.shtml

• Purchase of Company - The Tax Resource Group
  The debt is secured by the equipment. C Corp . §108 does not provide relief from COD income in this case, but it appears that a judicially created stock for debt .
  http://www.taxresourcegroup.com/library/memo/1312.html

Benefits not subject to COBRA are:

• (Questions About Taxes): Form 1099-A Abandonment of secured ...
  Apr 4, 2011 . Since the amount of debt cancellation was less than the FMV you do not have any COD income. However, you report the gain or loss on the .
  http://en.allexperts.com/q/Tax-Law-Questions-932/2011/4/Form-1099-Abandonment-secured.htm

• The Tax Consequences of Debt Forgiveness
  This law excludes up to $2 million of COD income resulting from debt . construct, or improve a taxpayer's principal residence, if the debt is secured by the .
  http://www.financial-topics.com/37080/e_article001250323.cfm?x=bgWs5N5,bhtT3KRl,w

• Plante & Moran | Debt Restructuring: The Strategy Behind the ...
  Mar 1, 2010. use the proceeds to pay off secured debt, using any excess money to fund the business. . One of the remaining viable options is to use an out-of-court debt . There are several exclusions from recognizing this COD income .
  http://www.plantemoran.com/perspectives/articles/Pages/debt-restructuring-the-strategy-behind-the-negotiation.aspx

• Tax Issues: Foreclosure and Workouts
  the principal amount of the debt or waiving the deficiency under a deed in lieu, generate cancellation of debt (“COD”) . as a result of the sale, that forgiven debt is typically treated as COD income. Generally . been secured by that residence.
  http://www.hocmn.org/Stock/Editor/file/FACT%20SHEETS/FactSheet_TaxIssuesForeclosureAndWorkouts_Dec2011.pdf

• Section 108 of the I.R.C. and the Inclusion of Tufts Gain: A Proposal ...
  debt and the value of the property is treated as COD income." In this . foreclosing on the property securing the debt is known as nonrecourse debt. KAHN & .
  http://lawdigitalcommons.bc.edu/cgi/viewcontent.cgi?article=2428&context=bclr

• LOOK BEFORE YOU LEAP: RULES ON CANCELLATION OF ...
  easily modify and restructure loans while avoiding any possible COD income. . ( vi) A change in collateral securing nonrecourse debt if a substantial portion of .
  http://www.rosenbergmartin.com/documents/conjeskitaxarticle.pdf

• Money Law Blog :: Published by DC, Maryland, and Virginia ...
  Will I have to pay income taxes for the debt that is wiped out? (You probably will, especially if the creditor reports "cancellation of debt" income for you to the IRS.) .
  http://www.money-lawblog.com/

The rules for beginning COBRA

CHAPTER 1 - Andela Consulting Group, Inc. - Business ...
However, the secured lender has actually authorized the business to use its cash . The timing of the debt discharge and COD income is usually the effective .
http://www.andelaconsulting.com/chapter11manual.htm

Fiscal Note Document
Feb 20, 2012 . Federal Cancellation of Debt Income Provisions. When an . any debt secured by the principal residence resulting from the refinancing of debt .
http://mlis.state.md.us/2012rs/fnotes/bil_0000/hb0600.pdf

If the lender writes off the loan can the car still be repossessed
Yes, a vehicle is a secured debt and the lender can remain a lien holder even . dollars here frequently, the company has COD income of the amount forgiven.
http://wiki.answers.com/Q/If_the_lender_writes_off_the_loan_can_the_car_still_be_repossessed

Avoiding the Tax Consequences of Foreclosures and ... Mar 28, 2012 . A recourse debt is the loan on a property being abandoned. . the debt, the forgiven portion is called “cancellation of debt” (COD) income and . http://accounting-software-blog.com/avoiding-the-tax-consequences-of-foreclosures-and-repossessions/

The Mortgage Debt Relief Act of 2007 - Atlanta Bankruptcy Lawyer ...
Apr 21, 2011. of debt income if the income resulted from a mortgage that was secured against their . What, exactly, is cancellation of debt income? . income ( commonly referred to as cancellation of debt income -- or COD income).
http://www.atlantabankruptcylawyerblog.com/2011/04/the-mortgage-debt-relief-act-of-2007.html

Treatment Of Liabilities For Cancellation Of Debt (COD) And Other ...
eral income tax purposes is critical to the determi- . treated as recourse for purposes of COD income, . transfer of the property that secures the debt instru- .
http://files.ali-aba.org/thumbs/datastorage/lacidoirep/articles/PTXL1202_Rubin_thumb.pdf

Changing your mind

California Tax: How do I Report a Short Sale?
How do I report cancellation of debt (COD) income if the creditor has not issued or . The Form 1099A is issued when a borrower abandons secured property, .
http://www.taxrates.cc/html/1006-ca-tax-short-sale.html

Lost your home? You may owe IRS - MSN Real Estate
"If you do not make payments you owe on a loan secured by property, the . The calculations take into consideration any cancellation-of-debt income and the .
http://realestate.msn.com/article.aspx?cp-documentid=13108456

Financial Adviser Procedures Related to Bankruptcy-Related ...
of debt (COD) income recognition, and litigation claims against the debtor corporation and/or the secured credi- tors. In a solvency opinion, the valuation analyst .
http://willamette.com/insights/articles_practice/gilbert_financial_adviser_procedures_summer2009.pdf

BANKRUPTCY TAXATION COMMITTEE Chapter 11 Plans and ...
assets to the liquidating trust, cancellation of debt (COD) and the income taxation of liquidating trusts. . at secured the discharged debt. –. Personal pro perty ( .
http://www.abiworld.org/AM/TemplateRedirect.cfm?template=/CM/ContentDisplay.cfm&ContentID=52433

Other COBRA details

• Form 1099-C Cancellation of Debt
  When a lender cancels your debt, you may have to report this as taxable income on your federal income taxes, unless there is an exception. If you're required to .
  http://credit.about.com/od/reducingdebt/a/cancelleddebt.htm

  Selected Distressed Debt Topics Section 108(e)(4) -- Example 1
  Oct 12, 2011 . by REIT directly and secured by its Property LLC interest. • Property is now . Fund wants to buy in mezz debt without triggering COD income. 6 .
  http://www.americanbar.org/content/dam/aba/events/taxation/taxiq-fall11-genz-distressed-slides.authcheckdam.pdf

• Short Sales and Foreclosures: Income Tax Traps for the Unwary ...
  Aug 1, 2011 . COD income is the term tax professionals use to describe the kind of . Million of COD income, so long as the cancelled debt was secured by .
  http://www.gknet.com/publicationDetail.aspx?id=386

  Coercive Debt Exchanges: The Leap-Frog Dilemma
  Mar 24, 2009 . converts existing unsecured bondholders into secured bank debt . of COD income resulting from an exchange of publicly traded debt is .
  http://www.kramerlevin.com/files/Publication/d18703d6-3a19-4d72-9cee-04e275c3034b/Presentation/PublicationAttachment/41697f9f-11f3-4160-8c59-08b2df40c13c/CoerciveDebt.pdf

• Extensions.

  Important Tax Considerations in Foreclosures, Short Sales, and ...
  COD income can occur when a bank forgives part of a debt to which a . A non- recourse loan is a loan which is usually secured by collateral and in which a .
  http://www.dlklawgroup.com/important-tax-considerations-in-foreclosures-short-sales-and-deeds-in-lieu-of-foreclosure/

• CLIENT REPORT: IRS Tax Tips: Mortgage Debt Forgiveness
  When a lender forgives any portion of a mortgage loan, cancellation of debt . income is excludable from income if it is incurred with respect to the taxpayer's principal . Acquisition indebtedness must be secured by the principal residence, .
  http://www.fleckanduhlich.com/Mortgage_Debt.pdf

  Cancellation of Debt on a Foreclosure | eHow.com
  A borrower's mortgage is secured by his property. By defaulting on the . Foreclosure Tax Issues · Cancellation of Debt Income in Bankruptcy. Print this article .
  http://www.ehow.com/about_6623391_cancellation-debt-foreclosure.html

• state of the Commercial real estate Market
  “cancellation of debt” income (“COD income”) representing the benefit to borrowers . extinguishes the debt secured by the transferred property is treated as a .
  http://www.bingham.com/Media.aspx?MediaId=9679

  Consequences of Short Sales & Foreclosures & Bankruptcy
  Mar 1, 2012 . IRS: Cancellation of Debt• Debt forgiveness income is the difference . QPRI is any debt that is secured by a principal residence and was .
  http://www.slideshare.net/wsijacob/consequences-of-short-sales-foreclosures-bankruptcy

• Managing the Exit Tax Burden of the QALICB | Lane Powell PC ...
  May 16, 2011 . Part One also explained that if COD income is recognized, the amount of income should be the difference between the issue price of the “B .
  http://www.jdsupra.com/post/documentViewer.aspx?fid=605ad04c-76a9-469b-a37c-57716c12b3c6

  Debt cancellation treatment clarified. - Free Online Library
  Free Online Library: Debt cancellation treatment clarified. by "The Tax . securing the debt) resulted in cancellation of indebtedness (COD) income to the debtor .
  http://www.thefreelibrary.com/Debt+cancellation+treatment+clarified.-a011661688

• The Tax Implications of Foreclosures - SmartMoney.com
  Feb 3, 2012 . Bankruptcy Exception: If the borrower is in bankruptcy when the debt forgiveness occurs, any COD income is federal-income-tax-free.
  http://www.smartmoney.com/taxes/income/the-tax-implications-of-foreclosures/

  Broad and Cassel: Publication - Tax Primer for Workouts and ...
  When attempting to work out its debts with a lender after a default, a debtor must . lender from foreclosing against the property securing the defaulted indebtedness. . Exclusion of COD income also may be available to taxpayers other than C .
  http://www.broadandcassel.com/pubDetails.aspx?ID=7174

• Uncovering the Tax Opportunities for Distressed Real Properties
  amount of the loan will result in Cancellation of Debt Income (CODI), . debt. Non -recourse debt is secured by the property only, with no recourse to borrower or .
  http://www.bpmcpa.com/assets/whitepaper/BPM_WPSchmitt7.pdf

  Federal Income Tax--Cancellation of Debt Income - Charles J. Ladd ...
  May 21, 2010 . Cancellation of Debt income to the extent of the discount or reduction. . Debt secured by the property, but not more than the adjusted bases of .
  http://taxation.lawyers.com/blogs/archives/6043-Federal-Income-Tax-Cancellation-of-Debt-Income.html

• Moving.

  HERRICK OBTAINS IRS RULING THAT MEZZANINE LOAN IS ...
  Generally, the COD rules require a borrower to recognize taxable income to the . not the real property itself, the mezzanine loan qualified as debt secured by .
  http://www.herrick.com/siteFiles/Publications/2208E6B85E3EF741AD02B2DFE989BC8D.pdf

• Amerihope Alliance - Florida Foreclosure Defense - Taxes
  If the debt is "non-recourse," the debt is solely secured by the property, and the debtor is . The loss may offset cancellation of debt income, "phantom income".
  http://www.amerihopealliance.com/taxes

  26 CFR 1.1017-1 - Basis reductions following a discharge of ...
  For example, if a taxpayer excludes $20 of COD income attributable to secured indebtedness A and excludes $80 of COD income attributable to unsecured .
  http://cfr.vlex.com/vid/1017-reductions-following-indebtedness-19707013

• The COD Deferral Option Isn't As Helpful As You Might Think ...
  Apr 5, 2011 . This income – often referred to as “cancellation of debt” income, . When a taxpayer transfers property secured by recourse debt (i.e., the lender .
  http://double-taxation.com/2011/04/05/the-cod-deferral-option-isnt-as-helpful-as-you-might-think/

  FEDERAL TAX TREATMENT OF DEBT WORKOUTS MICHAEL L ...
  THE DISPOSITION OF PROPERTY SECURING NONRECOURSE DEBT . . Revenue Ruling 92-97; When does an Allocation of COD Income have. Substantial .
  http://www.utcle.org/eLibrary/preview.php?asset_file_id=17913

• Disability.

  Debt Forgiven? You Are Not Home-free | Lewis & Knopf
  This is a secure extension of our website designed to allow better, more . This is commonly referred to as cancellation of debt (COD) income in tax circles.
  http://www.lewis-knopf.com/newsletters/the-edge-article/debt-forgiven-you-are-not-home-free/

• The Tax Implications From A Short Sale, Foreclosure - AZ Now Biz
  Feb 9, 2012 . “Cancellation of debt (COD) is the term tax professionals use to describe the . “ COD income is specifically included in a taxpayer's gross income … . recourse loan of $900000 that was secured by the residential home, and .
  http://aznow.biz/real-estate/tax-implications-short-sale-foreclosure

  The Bad-Debt Blues - Magazine - ABA Journal
  Nov 1, 2009 . In most cases, income from cancellation of debt—called COD in tax . Example: Let's say a debtor has debt of $1 million secured by a house—a .
  http://www.abajournal.com/magazine/article/the_bad-debt_blues/

For more information regarding COBRA, visit the cod route consult card order credit

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