insolvency exclusion: Worried Ahout paying tax when you sell your home in a short sale? - 10/18/14 09:34 AM
Worried Ahout paying tax
when you sell your home in a short sale?

There is a little know loophole that
may alow you to avoid paying the tax if you
sell your home in a short sale.
It is the insolvency exclusion,
you’ll have to prove to the satisfaction
of the IRS that your liabilities exceeded
the value of your assets at the time
your debt was cancelled.
Cancelled debt is not included in income
to the extent you were insolvent.
Consult your tax expect to see if you qualify for it!!!
Worried Ahout paying tax
when you sell your … (0 comments)

 
Thomas Santore Lic Associate Real Estate Broker, Realtor®-ABR-Land, Residential & Commercial Sa (Coldwell Banker Realty/Coldwell Banker Commercial NRT)

Thomas Santore Lic Associate Real Estate Broker

Realtor®-ABR-Land, Residential & Commercial Sa

Yorktown Heights, NY

More about me…

Coldwell Banker Realty/Coldwell Banker Commercial NRT

Address: 366 Underhill Avenue, Yorktown Heights, NY, 10598

Office: 9142453400 X159

Mobile: (845) 590-5488

I will be be talking about the land, Commercial, Multi Family and single family home market in upper Westchester and Putnam County. Also my Land Sales. And Real Estate in Yorktown Heights, Westchester County Real estate, Thomas Santore, Coldwell Banker, Coldwell Banker yorktown heghts ny,
Thomas Santore
Coldwell Banker Residential Real Estate
tsan25@aol.com
366 Underhill Ave.
Yorktown Heights , New York , 10598 United States
845-590-5488

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