Rental going into foreclosure – will they come after my wages or will I be taxed?
July 31, 2010 by gtsay
Filed under Foreclosure Properties
Question by coral: Rental going into foreclosure – will they come after my wages or will I be taxed? We have a rental property that we can no longer afford payments. If it goes into foreclosure, will they come after our wages or make us do a 1099? We do not want to do a [...]
Is foreclosure debt relief still taxed or not?
July 14, 2010 by gtsay
Filed under Foreclosure Properties
Question by Chuck Z: Is foreclosure debt relief still taxed or not? Recently, there was talk that the IRS was changing its rules so that debt relief experienced by persons who lost their homes to foreclosure would no longer be taxed. What’s the status on this rule change? Best answer: Answer by v bIt passed. [...]