_am-i-going-to-be-taxed-on-the-difference-between-the-mortgage-balance-amp-the-short-sale.jpg "Am I going to be Taxed on the difference between the mortgage balance & the short sale ? from irs site to check on stimulus payment Video Screenshot Preview")
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⏲ Duration: 1 min 27 sec
✓ Published: 17-Jan-2012
✓ Published: 17-Jan-2012
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Hi I’m Donna BishopHelping Homeowners with Short Sales thru out Lee CountynOne of the questions I get asked often is: Am I going to have to pay Income Tax on the difference between what I owe on the mortgage and what the Selling Price is for the short sale? nWell I use to say “probably but check with your tax advisor”.nThe fact is prior to 2007 Homeowners who had a short sale oreven a foreclosure were subject to PAYINCOME TAX on Any Amount of Forgiven Debt.nnThen in 2007 the US Gover
Hi I’m Donna BishopHelping Homeowners with Short Sales thru out Lee CountynOne of the questions I get asked often is: Am I going to have to pay Income Tax on the difference between what I owe on the mortgage and what the Selling Price is for the short sale? nWell I use to say “probably but check with your tax advisor”.nThe fact is prior to 2007 Homeowners who had a short sale oreven a foreclosure were subject to PAYINCOME TAX on Any Amount of Forgiven Debt.nnThen in 2007 the US Gover
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