Hi All,
There has been a lot of buzz about those folks who did a short sale in lieu of foreclosure being hit with additional taxes because of the forgiven mortgage debt. The state governments have been hitting these homeowners for the additional monies when they file their returns. Well this article might clear things up for some of you who may have been reluctant to sell your home as a short sale because of this or those of you who have already sold your home and are being hit with this tax.It appears as though the state will be forgiving this tax debt which I am sure will have some of you breathing easier. Now this article pertains to California so I would check your states web site where you live to see if they are doing the same. And as always you should consult a tax professional to give you the best information and advice on how to approach this. I hope this article is helpful to you. Take care and enjoy the rest of this beautiful day. Supposed to be 80+ degrees tomorrow! Wow! Poolside anyone? Remember: BE IN THE KNOW!
CU Later,
Carl O
Posted using ShareThis
No comments:
Post a Comment