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Updated over 15 years ago,

David Carreno's profile image
David Carreno's profile image
David Carreno
  • Real Estate Investor
  • from los angeles
  • Member since Aug 3, 2008
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David Carreno's profile image
David Carreno's profile image
David Carreno
  • Real Estate Investor
  • from los angeles
  • Member since Aug 3, 2008
Connect
David Carreno
  • Real Estate Investor
  • los angeles
0
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4
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Foreclosures

regarding taxes on short sale

David Carreno
  • Real Estate Investor
  • los angeles
Posted

Hi, I am recently facing a possible short sale, the property is about 35,000 under the water and one thing a firm I talked to told me that if the bank accepts the offer and the short sale goes through, that that I would have to pay taxes on the remaining balance as if it were a capital gain, which makes no sense to me.
Anybody knows anything regarding the subject?
thanks

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