Question

 What to Expect to Pay Taxes With a Short Sale?

Answer Every short sale is different with rules varying by lender. The tax consequences for a short sale are fairly consistent in spite of lender differences and often boil down to whether the home is the... Read More »
http://www.ehow.com/info_8509250_expect-pay-taxes-short-sale.html

Top Q&A For: What to Expect to Pay Taxes With a Short Sale

Do I pay taxes on a short sale?

If an individual has to sell a home for a net sales price (after commissions and other closing costs) that's less than the outstanding mortgage debt, it is called a short sale. The tax implications... Read More »
http://www.answerbag.com/q_view/2002166

Do I owe income taxes on a short sale?

Yes, short sales are taxable transactions according to the Internal Revenue Service. A gain or loss from the short sale is not realized until the property from the sale is delivered after closing.R... Read More »
http://www.answerbag.com/q_view/2235071

What happens to a judgement balance in a real estate short sale in New York state. If there is no equity in the sale will the judgement be released?

In any state, Judgements are usually filed with a court. In order for the Judgement to be released, someone -- preferably the party that filed the Judgement -- must be satisfied before the Judgemen... Read More »
http://wiki.answers.com/Q/What_happens_to_a_judgement_balance_in_a_real_estate_short_sa...

How much can a homeowner expect to get back on taxes?

Typically, homeowners with the home mortgage interest deduction receive tax refunds. There are a number of factors influencing the amount of the refund expected, each depending on varied circumstan... Read More »
http://www.answerbag.com/q_view/2038167


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