Partnership and Real Estate Debt Workouts
Tuesday, January 26, 2021
10:20 AM - 11:20 AM (PST)
Jim Sowell Sara Zablotney

With the current economic turmoil brought about by COVID-19, debt workouts are occurring with increasing frequency. This presentation will review the cancellation of indebtedness (“COD”) rules in the partnership context, including treatment of foreclosures; potential exclusion of COD income; partnership equity-for-debt exchanges; tax consequences of debt modifications; allocation of COD income among partners; actions to consider in advance of a debt workout; and other workout-related tax issues.