Posted on: 23rd Jan, 2011 01:14 pm
Hello, I do have investment home in the state of FL I have been trying to sale it as sort sale for the last 1 1/2 years but the bank keep tern the offers down so now my agent can not help me any more he told me to go for Deed- in – Lieu of foreclosure will I pay Tax on the forgiving amount in the state of FL & do you know what tax % will be.
Thanks
Thanks
Hi Galliano,
As the Mortgage Debt Relief Act is still in vogue, you won't have to pay taxes on the forgiven amount.
Thanks
As the Mortgage Debt Relief Act is still in vogue, you won't have to pay taxes on the forgiven amount.
Thanks
will I be Qualified even for investment home ?
Thank You
Thank You