Tax ramifications on "Deed in lieu of" and "Short Sale" of a mortgaged home
What is the name of your state? Colorado
Can someone please tell me what the tax ramifications will be on a Deed in lieu of or a short sale of a mortgaged home.
We will not make any profit off of either, but will we still have to pay taxes on it?
Thanks in advanced!
What is the name of your state? Colorado
Can someone please tell me what the tax ramifications will be on a Deed in lieu of or a short sale of a mortgaged home.
We will not make any profit off of either, but will we still have to pay taxes on it?
Thanks in advanced!