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I owe $600,000 on a $425,000 valued house. What will be the tax if I do a short sale?
 Question by Ron :
I purchased a investment property for $677,000 with a 20% down payment. The fair market value is $425,000. The outstanding loan balance is $600,000. What would be the tax on a short sale?
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Answer --> Question 125343
Related topics:
Forgiven Debt
Taxable income
1099-Misc.
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insurance, auto insurance, life insurance, home owner
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