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Showing posts with label Income Tax. Show all posts
Showing posts with label Income Tax. Show all posts
Monday, March 30, 2020
Wednesday, December 30, 2015
The President has extended the Mortgage Forgiveness
Debt Relief Act through the end of 2016 by signing Congress’ Spending
Bill
into law. As a result, the amount of money from a mortgage loan that is forgiven
incident to a short sale, foreclosure or deed-in-lieu of foreclosure will not
be taxable as income.
In the...
Friday, January 02, 2015
Terrific
news is here with a tax break for those who sold or lost their underwater homes
to foreclosure in 2014.
The
Mortgage Forgiveness Debt Relief Act (MFDRA) was extended through 2014 by the Tax Increase
Prevention Act of 2014 on December 19, 2014.
Homeowners
who were forgiven debt a/k/a “cancellation of debt...
