IRS PUBLICATION
Having read the article, I suggest you contact a competent CPA to review your personal circumstances. The issue of insolvency appears to be the key to whether you will face tax consequences.
Thursday, September 20, 2007
TAX IMPACT ON FORECLOSURES & SHORT SALES
The Internal Revenue Service has provided guidance in a publication dealing with Foreclosures and Short Sales:
IRS PUBLICATION
Having read the article, I suggest you contact a competent CPA to review your personal circumstances. The issue of insolvency appears to be the key to whether you will face tax consequences.
IRS PUBLICATION
Having read the article, I suggest you contact a competent CPA to review your personal circumstances. The issue of insolvency appears to be the key to whether you will face tax consequences.
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