Tag Archives: Taxes and Short Sales

Taxes Owed After Short Sale or Foreclosure? | IRS Form 982, Mortgage Forgiveness Debt Relief Act

After a short sale or a foreclosure, will there be taxes owed on the ‘forgiven debt’? Consult your CPA for more details, but the bottom line is: most  homeowners will not owe tax on the forgiven amount. Prior to the … Continue reading

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