If you remember, one of my related non recourse s corps was

Question : if you remember, one of my related non recourse s corps was a guarantor of the loan and did not have any assets, the loans of the s corps which were recourse loans had collateral assets,<br/>The guarantor took over the balance of the loan that was not paid by the recourse s corps and the recourse loans were released by the lender, closed. After, the guarantor defaults on the loan, would any of the recourse s corps that were the original borrowers be on the hook for the COD tax?
<br /><br />
Answer : Yes, whomever still owes the debt (guarantor, co-borrower, etc.), as long as it’s recourse debt, will have the COD income when finally forgiven.

Need Help Writing an Essay?

Tell us about your assignment and we will find the best writer for your paper.

Get Help Now

I lOVE this Professional essay writing website. This is perhaps the fifth time I am placing an order with them, and they have not failed me not once! My previous essays and research papers were of excellent quality, as always. With this essay writing website, you can order essays, coursework, projects, discussion, article critique, case study, term papers, research papers, research proposal, capstone project, reaction paper, movie review, speech/presentation, book report/review, annotated bibliography, and more.

Post your homework questions and get original answers from qualified tutors!


Share your love