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There is a lot of confusion surrounding the tax liability in regards to the forgiveness of debt when it comes to a short sale.
First off it is important to state you are concerned about the tax liability in a short sale, you should definitely talk to your accountant. Nothing surpasses professional advice.
In 2007, President Bush ...
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The home buyer tax credit has been recently extended to April 30th, 2010. A purchase and sale must be signed by this date and completed by June 30, 2010.
Some new provisions have been added:
repeat buyers can receive a tax credit of $6500
and income limits have been raised to $125,000 for single taxpayers $225,000 for married ...
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Boston Globe
Hundreds of first-time home buyers in Massachusetts will be able to get an advance on an $8,000 federal tax credit, allowing them to apply the money to down payments and closing costs, under a new program unveiled by Governor Deval Patrick yesterday.
Jenifer B. McKim
July 15, 2009
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Mass. ...
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