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In clear and simple language, this text demystifies tax laws and their impact on anyone owning or selling real estate. Students will receive a background on basic tax issues and learn to apply calculations and formulas to better assist clients on tax-related questions and issues. Updates include recent tax law changes, and a discussion of tax issues regarding cancellation of debt, foreclosure, and repossession. Real-life examples and case studies with discussion questions offer a context for the material covered.
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