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One of the most common concerns that sellers have when we discuss working with them to do a short sale on their home is: Will I be taxed on my the forgiven debt from my Ohio short sale? Call Andy with more questions or to get your home sold on a short sale. . . . → Read More: Will the forgiven money on a short sale be reported to the IRS as income?  2 comments  Uncategorized  Assets, Bankruptcy Code, Cancellation Of Debt, Chapter 11, Chapter 13 Bankruptcy, Chapter 7, Creditors, Debtor, Earned Income, Futile Effort, Insolvency, Irs Publication, Irs Website, Many Things, Married Couple, Million Dollars, Money, Mortgage Debt, Page Six, Personal Loss, Phantom, Possibilities, Property Liens, Real Estate Property, Retirement, Www Irs Gov It seems that there are still tax professionals that don’t understand that there is a way for most homeowners selling their homes on a short sale who have experienced a 1099 for the foregiveness of debt not to pay taxes on that. The best way to avoid paying taxes on the 1099 for many . . . → Read More: The Mortgage Forgiveness Debt Relief Act- Old news but still important. 3 comments Uncategorized Debt Forgiveness, Federal Income Tax, Federal Income Tax Return, Foregiveness, Income Tax Return, Internal Revenue Service, Irs Commissioner, Irs Forms, Irs Website, Married Person, Mortgage Debt, Mortgage Problems, Paying Taxes, Principal Residence, Relief Act, Return Details, Tax Preparation Software, Tax Professionals, Tax Software, Www Irs Gov |
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