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Updated over 12 years ago on . Most recent reply presented by

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David Raskin
  • Grants Pass, OR
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Qualified real property business indebtedness

David Raskin
  • Grants Pass, OR
Posted

I invested in bare land to develop. I have a full time job. I had to give back some of my lots and I am looking at substantial debt forgiveness. Can my debt be considered qualified real property business indebtedness which would allow me to substantially lower my reportable income?

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