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Updated almost 7 years ago,

Tom Patel's profile image
Tom Patel's profile image
Tom Patel
Pro Member
  • Real Estate Agent
  • from Germantown, Maryland
  • Member since May 2, 2016
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User Stats

16
Posts
6
Votes
Tom Patel's profile image
Tom Patel's profile image
Tom Patel
Pro Member
  • Real Estate Agent
  • from Germantown, Maryland
  • Member since May 2, 2016
Connect
Tom Patel
Pro Member
  • Real Estate Agent
  • Germantown, MD
6
Votes |
16
Posts
Tax, SDIRAs & Cost Segregation

Tax consequences for deed in lieu.

Tom Patel
Pro Member
  • Real Estate Agent
  • Germantown, MD
Posted

What will be tax consequences for borrower of rental house giving property back to lender through deed in lieu with following situation.

(1) Lender issue 1099C , No deficiency judgement.

(2) Lender don't issue 1099C , No deficiency judgement. Is borrower obligated to pay taxes even no 1099C. What are the            ways to minimize the tax.

  • Tom Patel
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