Last Call! List Now! Sell in 2012! Some Experts only give 60% chance that your short sale won’t be taxable in 2013!!!
The best explanation I’ve read of the impact of the Bush era tax cuts on real estate is in a CNBC Article on September 28th: “A short sale is debt forgiveness. Debt forgiveness is taxable. In order to help the huge volume of troubled borrowers and promote more short sales, Congress in 2007 passed the…