How to Get Asset Disposition Statements from Residents

May 31, 2008
| Share | Print

As a site owner or manager, you probably know that IRS auditors are entitled to look at your resident files to see whether you have obtained asset disposition statements from households at your site.

The IRS requires these statements because households have been known to shrink their assets—that is, reduce the value of their assets—to qualify for tax credit housing. A standard method of shrinking assets is selling the family home to a relative for a fraction of its value.

Full Article Access:

Full access to complete articles from Tax Credit Housing Management Insider is for subscribers only.

Not yet ready to subscribe?