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Real Estate & Property Law

: The Home Equity Theft Reporter

Unsettled State Income Tax Consequences Of Debt Forgiveness On Short Sales, Foreclosures, Loan Mods Leave Some California Residents In Limbo

By r morris

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In Sacramento, California, The Sacramento Bee reports:Accountants say rising numbers of California taxpayers who did short sales or received loan modifications in 2009 now fear they will be walloped anew by a cash-starved state government intent on taxing their forgiven debt. It's impossible to ease the fears or specifically answer many questions, these accountants say."We've had quite a few

Full post as published by The Home Equity Theft Reporter on March 12, 2010 (boomark / email).

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