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Analysis of the Tax Exclusion for Canceled Mortgage Debt Income.

Provides overview and analysis of current tax treatment of canceled debt income; and describes P.L. 110-142, the Mortgage Forgiveness Debt Relief Act of 2007, which excludes canceled qualified residential debt from income when calculating taxes, and prior legislation. Addresses policy options.

Bibliographic Details
Corporate Authors: Library of Congress. Congressional Research Service, ProQuest (Firm)
Format: eBook
Language:English
Published: [Place of publication not identified] : [publisher not identified], 2008.
Series:U.S. Congressional Research.
Subjects:
Income tax.
Mortgages.
Economic policy.
Electronic books.
Online Access:Connect to the full text of this electronic book
Description
Summary:Provides overview and analysis of current tax treatment of canceled debt income; and describes P.L. 110-142, the Mortgage Forgiveness Debt Relief Act of 2007, which excludes canceled qualified residential debt from income when calculating taxes, and prior legislation. Addresses policy options.
Item Description:Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed Dec. 2010). Reuse except for individual research requires license from ProQuest, LLC.
CRS Report.
Electronic resource.
Physical Description:1 online resource.