Posted by Philip on October 19, 2009 at 10:01:45:
In Reply to: Short sale tax consequences posted by Winston Holmes on October 13, 2009 at 19:24:58:
lets say the purchase price of the house is 100,000
and the short sale price is 55,000 can the bank legally give a 1099 to the original purchaser and he has to pay income tax on the deficiency.