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Loan Modification

: Loan Modification & Home Loan News

Short sales carry tax consequences that can be avoided

By Moe Bedard

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Debra Caton asks, “How do you file your taxes after a short sale?” What you may not know is that even though the bank will cancel debt, that amount is seen as income. Therefore it is taxed. Brian Gubernick is with Keller Williams short sale team and says you’ll receive a 1099 form that must [...]

Full post as published by Loan Modification & Home Loan News on August 17, 2010 (boomark / email).

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