@home_invest · Home Invest
Saved 2026-05-15 · Posted 2026-03-12 · Status: New
CRAZIEST $6M tax loophole ever! 🤯💰
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Comments (15)
Sounds like tax fraud actually.
Tax lawyer with 40 years experience here. this is 100% tax fraud . he is talking about it now because the statute of limitations expired.
What a nonsense, unless you are insolvent, cancelation of debt is taxable income :)
This means that you transacted on a debit forgiveness whoever, the defaulter would have been taxed on the forgiveness amount. What he is stating is straight up fraud… this is not a loophole since a transaction occurred in exchange of the debit therefore a forgiveness, considered income. We see this with personal bankruptcy where debit forgiveness is considered income… nice try
It still works. I did it last year.🔥
Lmfao but the “buyer” wouldnt get the property 🤣🤣🤣🤣 this is decisive practices🤣🤣 NEVER LISTEN TO THIS BOZO.. the buyer would have to get the property a second time from the county
Income created by forgiveness of debt. This is a sham!!!!
Yeah this is nonsense and a lie. You can't just surrender a deed without being bankrupt. You have to be insolvent and the deed transaction still needs to be approved by a judge.
How do you default on a loan in a day?
I like how the “buyer” just lends you 6mil…….when you live in the figment or your imagination
That only worked bc during the 08 debacle there was a period where the govt omitted a 1099 bc the fc rate was so high. The lender is supposed to issue you a 1099 to account for the loss.
This doesn’t work anymore, right? A DIL is presently a taxable event
Bruh never heard of substance over form
@traddbastian this still work?
Why would the buyer lend you the 6 million is instead of buying the property?