Home › Forums › Financial Markets/Economics › “Strategic” Default Question › briansd1 wrote:I’ve not
[quote=briansd1]I’ve not studied that particular tax code for specifics and dates.
But we could have something like this:
Dad (or dad’s company) could lend son the money to buy a house.
Son defaults.
Debt is forgiven but no foreclosure action is taken (nothing even need to gets recorded with the County).
Dad takes a bad debt write-off and son doesn’t pay any taxes.
Win-Win. Lose-lose for the government.[/quote]
Brilliant thinking outside the box. Gotta keep this in mind.
