Break Into Tax: The Federal Income Tax Treatment of Debt

Learn or review how the federal income tax treats debt. This video covers the basics of (1) the tax consequences of borrowing and repayment, (2) cancellation of indebtedness, (3) the tax treatment of debt used to acquire property, and (4) the tax treatment of debt relief when disposing of property. Professor Lederman & Dean Stephen Mazza co-host. They also discuss the difference between "recourse" and "nonrecourse" debt. Watch until the end for Dean Mazza joking around/outtakes!

TaxProf Blog coverage of Break Into Tax videos:

• Christians And Lederman Start YouTube Series Break Into Tax (BiT) (Feb. 16, 2021)
• Christians & Lederman: Should You Get A Tax LLM? (Feb. 24, 2021)
• Christians & Lederman: An Important Tax Tip & #WhyTakeTax? (Apr. 1, 2021)
• Lederman & Christians: Last-Minute Exam Prep (Apr. 24, 2021)
• Lederman & Christians: Tax Papers Unlocked — The Elevator Pitch (May 19, 2021)
• Lederman & Christians: An Overview Of U.S. Federal Tax Controversies (June 21, 2021)
• Lederman & Christians: Tax Papers Unlocked — Rita de la Feria (July 9, 2021)
• Christians & Lederman: How To Read A Tax Statute (July 24, 2021)
• Lederman & Christians: Tax Papers Unlocked — Dan Shaviro (Aug. 2, 2021)
• Christians & Lederman: Tax Careers — The Office Of Chief Counsel And The IRS (Aug. 14, 2021)
• Lederman & Christians: Tax Papers Unlocked — Jon Choi (Aug. 21, 2021)
• Christians & Lederman Launch Season 2 of Break Into Tax (Sept. 18, 2021)
• Lederman & Bearer-Friend: Break Into Legal Academia (Sept. 25, 2021)
• Break Into Tax: Friday The 15th (Oct. 11, 2021)
• Break Into Tax: Talking Tax Careers With The Tax Chick (Oct. 16, 2021)
• Break Into Tax: Tax Papers Unlocked — Victoria Haneman (Oct. 23, 2021)
• Break Into Tax: Exam Tips (Nov. 6, 2021)
• Break Into Tax: Introduction To Deductions (Nov. 20, 2021)
• Break Into Tax: Capital Gains & Losses — An Introduction (Nov. 27, 2021)
• Break Into Tax: The Limitation On Capital Losses (Dec. 4, 2021)
• Break Into Tax: The Capital Gains Preference (Dec. 11, 2021)
• Break Into Tax: The Federal Income Tax Treatment of Debt (Dec. 18, 2021)
• Videos: How To Do Legal Research And Tax Research (Jan. 22, 2022)