I received $1,000 from my employer in lieu of taking company health coverage. Since this was not for work performed, do I have to report this as income?

Nonrecourse financing

Debt on which a person is not personally liable. In case of nonpayment, the creditor must foreclose on property securing the debt. At-risk rules generally bar losses where there is nonrecourse financing, but an exception applies to certain nonrecourse financing for real estate.