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Taxes, Bankruptcy, and Distressed Properties: How a Short Sale, Deed-in-Lieu, or Foreclosure Can Result in Taxable Income

Tuesday, May 13, 2014 12:00 PM to 1:00 PM
Boston Bar Association - 16 Beacon Street, Boston, MA


When your client is letting property go, what option is best from a tax perspective: a short sale, a deed-in-lieu, or a foreclosure sale?  Does it matter if your client files for bankruptcy before or after a sale or foreclosure?  Does it matter if your client is insolvent? 

Given that Congress has yet to extend the Mortgage Forgiveness Debt Relief Act, knowing the answers to these questions is essential to being able to provide the best advice to your clients.  This luncheon will provide attendees with guidance from tax experts as to the consequences of choosing among these alternatives.  Multiple fact patterns will be discussed to illustrate the various issues.  

Sponsoring Section/Committee(s):




Elizabeth Vincensi


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