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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: jpk1 who wrote (74619)3/23/2007 12:43:39 PM
From: Travis_BickleRead Replies (2) | Respond to of 306849
 
To the extent you are insolvent when the debt is forgiven there's no COD income.

Also to discharge taxes in bk you need to wait a couple of years before filing.



To: jpk1 who wrote (74619)3/23/2007 12:56:24 PM
From: Lizzie TudorRespond to of 306849
 
very similar to what happened to stock options holders when their shares went to $0... they still owed the AMT, and with no money many were wiped out.


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