How is a deed in lieu of foreclosure treated?
August 21, 2008
Date: Fri, 16 Nov 2007
Thanks for your article on short sale v. foreclosure. What about a deed in lieu of foreclosure?
Thank you, Selma
Date: 27 Nov 2007
A deed in lieu of foreclosure is taxed the same as a foreclosure. The tax law focuses on settlement of debt by a transfer of property.
We have more answers to frequently asked real estate tax questions! We also offer up-to-date information about new tax real estate tax developments in Michael Gray, CPA's Real Estate Tax Letter.
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