Talk:Crane v. Commissioner

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Hey, I think whoever wrote this article got their facts mixed up somewhat. I just got finished reading this case for my Fed Income Tax course, and the Ct specifically says that the amt of the mortgage was not greater than the value of the property. Maybe I'm just reading the article wrong, but you seem to say that the income was the amt of the mortgage that exceeded the value of the prop. In other words, she received income in the amt that she discharged a debt (or liability) for which she had no corresponding asset to balance out that liability. But that's not what the case says

129.137.84.113 (talk) 20:48, 15 February 2008 (UTC)Mr. Methos[reply]