Tax Consequences of Short Sales vs. Foreclosures

By
Real Estate Agent with Century 21 Redwood Realty

Tax Consequences for a Short Sale Vs. Foreclosure

I have listed many, many short sales and one questions that comes up at almost every listing appointment is, "What are my tax consequences?". I must say that I got very excited whenever I saw a great, easy to ready article explaining information that I can't give advice about. Take a couple of minutes and read the article listed below. It's extremely important that as a responsible seller, you understand your consequences before you enlist the services of a Real Estate Agent.

Tax Consequences of a "Short Sale" of Real Estate vs. Foreclosure by Michael Gray, CPA

As a licensed Realtor, I'm in no place to give any advice regarding any tax related issues and I will disclaim that you should contact your CPA if you have any further questions. If you need a referral for an excellent Virginia CPA, please contact me and I'm happy to send you one.

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