You’ve finally managed to work out your debt issues with your lender and are feeling much more optimistic about the future. But wait – have you discussed the workout with your tax advisor yet? Whether your debt workout was as simple as a modification of debt terms or as unfortunate as a foreclosure, the resulting tax ramifications may surprise you – and not in a good way.
This article provides a brief introduction to the very complicated tax rules surrounding debt workouts.
Length: 1 pages (PDF 60 kB)