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If I read right, this is a deferral of tax by reduction of home basis. And so, the forgiveness of debt is re-categorized from being subject to income tax to being subject to capital gains tax.
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visit habitat uHabitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
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Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
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learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
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