Tags: mortgage forgiveness debt relief act of 2007
12/24/09
Short Sales: Will you have to pay the Phantom Tax?
The Mortgage Forgiveness Debt Relief Act was passed in 2007 to protect distressed homeowners from being taxed by the IRS on the debt that was cancelled by the lender on the short sale of their home. Prior to the bill being passed, the IRS viewed the def… more »
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Patricia Beck, GRI
215 West Rockrimmon Blvd.
Colorado Springs, CO 80919
Cell: 719-660-9058
Main: 719-599-8500
Fax: 719-638-4319
