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Product ID: 391891EAU
 
Credit & Course Provided by:

Current Tax Implications of Repositioning Real Estate

OnDemand Webinar (97 minutes)

In a declining real estate market, more building owners and developers are concerned about the tax consequences associated with foreclosures, deeds in lieu of foreclosure, short sales and debt restructuring. Often, the tax consequences associated with these transactions can be difficult to determine. This OnDemand Webinar will help you advise your clients on the income tax effects of restructuring debt or disposing of property in zero equity transactions.

Learning Objectives:

  • You will be able to discuss net operating losses.
  • You will be able to explain Section 108.
  • You will be able to review tax considerations for lenders.
  • You will be able to describe how to transfer property to pay debt.

Authors

Phillip L. Jelsma, McKenna Long & Aldridge LLP

Agenda

General Principles

• Cancellation of Indebtedness Income

• Nonrecourse Debt

• Recourse Debt

• Purchase Money Debt

Tax Considerations for Borrower

• Cancellation of Indebtedness Income

• Section 108

• Transferring Property to Pay Debt

Tax Considerations for Lender

• First Mortgage

• Second Mortgage

• Information Reporting

Modifying Debt Instruments

• No Exchange

• Exchange Treatment

Net Operating Losses

Section 108

• Insolvency Exclusions

• Related Party Acquisitions

• Purchase Money Debt