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
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, H24working papers series
Date posted: January 29, 2009
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