Tag archive for ‘bankruptcy and taxes’
Tax Consequences of a Short Sale; the Bankruptcy ‘Cure’
by John O'Connor on 9/07/09 | 3 Comment(s)
Debts discharged in Bankruptcy are not taxable events. With the housing market in turmoil, many are looking to a short sale as a way out from under a house that is rapidly declining in value. A true short sale or deed in lieu of foreclosure involves a forgiveness of debt. The borrower either sells or [...]
