Lee B Posted March 14, 2015 Report Posted March 14, 2015 (edited) Real Estate Property Foreclosure and Cancellation of Debt ATG Publication Date - February 2015 NOTE: This guide is current through the publication date. Since changes may have occurred after the publication date that would affect the accuracy of this document, no guarantees are made concerning the technical accuracy after the publication date. Table of Contents Chapter 1: Overview Purpose Brief History Exceptions Definitions Key Tax Issues Chapter 2: Type of Debt Nonrecourse and Recourse Debt Gain and Loss Computation and Cancellation of Debt Income Chapter 3: Income from Discharge of Indebtedness Bankruptcy Insolvency Qualified Farm Indebtedness Qualified Real Property Business Indebtedness Qualified Principal Residence Indebtedness Audit Techniques Chapter 4: Tax Attribute Reduction Reduction of Tax Attributes Depreciation Recapture Reductions Summary of Tax Attribute Reduction Rules Bankruptcy, Insolvency, and Farm – Attributes Reduction Qualified Real Property Business Indebtedness–Attributes Reduction Qualified Principal Residence Indebtedness - Attribute Reduction Chapter 5: Rental Real Estate Property Introduction Qualifying Dispositions under IRC §469(g) Non-qualifying Dispositions under IRC §469(g) Depreciation Recapture Character of Property at Disposition Lease with Option to Buy Property Rental Audit Strategies Chapter 6: Tax Consequences of Abandonments Chapter 7: Form 1099-A and Form 1099-C Background Examination Considerations Inaccurate or Questionable Forms 1099-A and 1099-C Chapter 8: Community and Common Law Property Community and Common Law Property Systems Community Property Chapter 9: Audit Strategies Summary of Real Estate Property Audit Strategies Case File Documentation Standard Paragraphs and Explanation of Adjustments Job Aids Resources for Real Estate Foreclosures and Cancellation of Debt Income Chapter 10: Rehabilitation Credit and IRC §469 Background Audit Hints Chapter 11: Low Income Housing Credit Low-Income Housing Credit $25,000 Offset Disposition of Passive Activity Edited March 14, 2015 by cbslee 5 Quote
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