Real estate blog entries tagged with time running out to avoid orlando short sale tax penalty by Jerry LaRose, Realtor, Short Sale Expert Orlando, Florida Real Estate Short Sales (Keller Williams Realty mailto:jerry@jerrylarose.com )

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Home : Blogs : Jerry LaRose, Realtor, Short Sale Expert Orlando, Florida Real Estate Short Sales : Orlando, Windermere, Winter Garden Florida Real Estate News Keller Williams Realty : Tag "time running out to avoid orlando short sale tax penalty"

time running out to avoid orlando short sale tax penalty: Time running out to avoid short sale tax penalty - 01/13/12 08:01 AM

Since 2007, the Mortgage Debt Relief Act has allowed owners selling their homes through a short sale to do so without having to pay tax on the amount their mortgage holders forgave them. The tax change means that if a house is sold for $75,000 less than what’s owed on the mortgage, the seller would owe federal income taxes on that amount.
If the seller is in the 15% tax bracket, they would owe the IRS $11,250. Some real estate analysts think doing away with the tax incentive will sabotage the government’s efforts to gradually move people out of homes … (1 comments)

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Jerry LaRose, Realtor, Short Sale Expert Orlando, Florida Real Estate Short Sales

Orlando, FL

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Keller Williams Realty mailto:jerry@jerrylarose.com

Address: Orlando, East Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, , Altamonte Springs, Maitland, Longwood, Apopka, Ocoee, Lake Mary, Sanford,, Orlando, Fl., 32822

Office Phone: (407) 580-7011

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