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Exclusion of COD Income for the Developer – or Not?

By Farrell Fritz P.C. on June 13, 2016
Posted in Federal Tax Issues

COD & QRPBI
The discharge of indebtedness generally gives rise to gross income to the debtor-taxpayer. The law, however, provides several exceptions to this general rule. Among these exceptions are rules providing that income from the discharge of indebtedness of the taxpayer is excluded from income if the discharge occurs in a Title 11…

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