Re: Property taxes in Short sale?

Posted by NJD on January 01, 2009 at 06:28:12:
In Reply to: Re: Property taxes in Short sale?
Posted by kingno1 on December 31, 2008 at 19:20:14:

Whether or not you get an IRS form 1099 is immaterial. If tax is owed, its up to you to pay on it.

Read The Mortgage Forgiveness Debt Act of 2007 to see if any "income" arising from forgiven debt is exempt from tax.