Article Date:
October 2007


Word Count:
722

 

 

Tax Guide for Debtors on Foreclosure of Rental Property


Tax law treats foreclosure on your rental property as a sale of your rental property. When you sell a rental property, you have a capital gain or loss, or a Section 1231 gain or loss.

 

You could have a recourse or non-recourse mortgage on your rental. The differences between the recourse and non-recourse mortgages for a home are displayed and explained in exhibit 1 below.

 

 

The recourse and non-recourse results for a rental property are the same, except for these two ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee