debt: Foreclosure and Short Sale Taxes for Minnesota Home Sellers
- 10/09/08 03:56 AM
Home Sellers in Minnesota that do not get signed releases from their bank might owe the IRS money. The IRS says there is no free lunch. If you transfer title on your home, whether voluntarily through a warranty deed or grant deed, or involuntarily through foreclosure, you have sold your home. You might be subject to taxes, even if you sold your home at a loss, either on a short sale or by foreclosure. It doesn't seem fair. What's worse is you might not even find out that you owe taxes until the day you open your mail to find a … (0 comments)
Home Sellers in Minnesota that do not get signed releases from their bank might owe the IRS money.;)
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