more on taxes and foreclosures and short sales: More on Taxes & Foreclosures & Short Sales - 07/03/12 05:37 AM
The income tax consequences of foreclsoure and shorts ales have been the subject of much interest due to the mortgage crisis...This article will provide an overview of the major Federal income tax issues..However it is not intended to provide advice on specific situations..Rather it will help real estate and mortgage advisors become more valuable assets to their clients by better understanding when to refer borrowers for professional assistance.
The fundamental concept is the federal rule about Cancellation of Debt Income (CODI). Briefly, debt that is cancelled or forgiven generally results in ordinary income to the debtor, unless an exception, such as … (0 comments)

 
Suzi Boyle,Manager 37810/1251, Awarded"Nation's Top 200"--10 times (Castle & Cooke Mortgage, LLC, NMLS #1816289)

Suzi Boyle,Manager 37810/1251

Awarded"Nation's Top 200"--10 times

Boise, ID

More about me…

Castle & Cooke Mortgage, LLC, NMLS #1816289

Address: 512 N 13th Street, Boise, ID, 83702

Mobile: 208-859-3303

Office: 208-202-7890

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