The Housing Decline: The Extent of the Problem and Potential Remedies, Senate Finance Committee, Invited Testimony, December 2007

Geier, Deborah

doi:10.2139/ssrn.1333896

Abstract

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The Housing Decline: The Extent of the Problem and Potential Remedies, Senate Finance Committee, Invited Testimony, December 2007

Deborah A. Geier

Cleveland-Marshall College of Law, Cleveland State University

January 27, 2009

Cleveland-Marshall Legal Studies Paper No. 1333896

Abstract:
The author was asked to submit testimony to the Senate Finance Committee regarding the proper scope of - 61(a)(12) taxation when personal residence debt is discharged due to falling market prices (as opposed to consumption by the taxpayer) in light of categorization of personal residences as entirely "personal-use" assets (producing nondeductible losses).

Number of Pages in PDF File: 10

Keywords: debt-discharge income, COD income, home foreclosure

JEL Classification: H20, H24

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Date posted: January 29, 2009

Suggested Citation

Geier, Deborah A., The Housing Decline: The Extent of the Problem and Potential Remedies, Senate Finance Committee, Invited Testimony, December 2007 (January 27, 2009). Cleveland-Marshall Legal Studies Paper No. 1333896. Available at SSRN: http://ssrn.com/abstract=1333896 or http://dx.doi.org/10.2139/ssrn.1333896

Contact Information

Deborah A. Geier (Contact Author)

Cleveland-Marshall College of Law, Cleveland State University ( email )

2121 Euclid Avenue, LB 138
Cleveland, OH 44115-2214
United States
216-687-2341 (Phone)
216-687-6881 (Fax)

HOME PAGE: http://facultyprofile.csuohio.edu/csufacultyprofile/detail.cfm?FacultyID=D_GEIER