Adobe InDesign CS3 (5.0)
Tax Lawyer, Vol. 63, No. 2 CANCELLATION OF DEBT INCOME 415415A Field Guide to Cancellation of Debt IncomeMaArtinTIN J. McCMaAhonON, Jr. AND DanielANIEL L. SimmonsIMMONS*I. IntroductionThe United States is awash in a sea of debt. In June 2009, there was more than $14 trillion of mortgage debt outstanding—approximately $11 trillion on one to four family residences, approximately $900 billion on multifamily residences, slightly more than $2.5 trillion on nonfarm nonresidential real estate, and $111...