Mortgage not part of amount realized on foreclosure
Article Abstract:
The unpaid mortgage of a property should not be considered as part of the amount realized on the foreclosure sale of that property. This was the decision reached in 'Aizawa,' 99 TC No 10. In this case, the taxpayers claimed that the amount they realized when their property was sold at a foreclosure sale was the property's mortgage minus the portion of the judgment brought against them by the sellers that was still unpaid. The IRS countered that the remaining mortgage that has yet to be paid represented the amount realized on foreclosure. The Tax Court settled the argument by correcting the method used by the taxpayers to arrive at the full amount of proceeds received and then recomputing the taxpayers' loss on on the sale of their property.
Publication Name: Taxation for Accountants
Subject: Business
ISSN: 0040-0165
Year: 1992
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REITs again are popular, in part for tax advantages
Article Abstract:
Real estate investment trusts (REITs) have again become favored investment options. Many investors have discovered that an acquired REIT can be liquidated to obtain potentially lucrative returns on the underlying real estate assets. If properly planned, the acquisition of an undervalued REIT can be structured so that the subsequent liquidation of assets is done with little or no tax consequences. The attractiveness of REITs is largely the result of the depressed state of the real estate market, which has led many REITs to be sold at prices well below the value of their real estate assets.
Publication Name: Taxation for Accountants
Subject: Business
ISSN: 0040-0165
Year: 1992
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Churnings over earnings...
Article Abstract:
Investors are becoming concerned with corporate earnings. They are gathering more-in depth information on the firms they invest in. They are also giving special attention to insider trading since it provides clues to determine whether they should buy or sell. Insider trading analysis can also be applied on an industry-wide basis, a process in which the earnings of both companies and industries are evaluated.
Publication Name: CDA-Investnet Insiders' Chronicle
Subject: Business
ISSN: 1074-0139
Year: 1998
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