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State Income Tax Traps for Owners of Distressed Debt


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A prevalent activity among certain investors in recent years has been to acquire, hold, manage and sell “distressed debt.” In fact, in the past few years, real estate investment trusts (REITs), hedge funds, and other investors have created various funds to buy distressed debt as an investment opportunity, often realizing significant gains as a result.

When considering the acquisition of distressed debt, however, investors should be aware of the related state income tax consequences.

Read more in the attached article written by Parrish Ivy, Senior Manager at Deloitte Tax LLP.

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