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Tax Implications On Forgiving A 2nd Mortgage

johni554 profile photo
  • Thursday, July 22, 2004 @ 01:42 AM EDT
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If a 2nd mtg is granted to a buyer and the seller forgives that 2nd mortgage at some later date, is this treated under basically the same rules as real-estate gifts/gifts of equity (i.e., using the 11K rules and/or filing the Form 709)?
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  • johni554
    johni55421st July, 2004
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    Hmmm....

    Veeeery interwesting...

    Thanks!!

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