i was thinking about the tax implications of forgiven mortgage debt while the housing boom was under way. I occasionally would try to explain this as a risk to people during the housing boom and was met witha dull cattle-like expression. of course, i was the dumb one, as that was one fot he first bits of legislation passed. i remember feeling slightly forlorn and idiotic when that liability was taken off the table. Course, i had some tax background, and was thinking way too cautiously and far ahead of the game, way outtthinking myself. Taxes matter. Or they should. we make decisions based on tax implications. even a cautious fellow like myself would think the taxation on forgiveness of indebtedness will probably go to the wayside int eh event of another similar crash. Rewards recklessness…
