If someone is insolvent at the time of a shortsale and is issued a 1099 for forgiven debt, does filing insolvency with the IRS affect a person's credit? Does the IRS report to the credit bureaus? It would seem that i...

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 wou...

How will the actual crisis impact the real estate market in your opinion?
The fact is that , justified or not, the crisis has already hit many businesses including hospitality & tourism, transportation, financial...

Why have you not sold, refinanced, or 1031 exchanged your pricey RE for more cash flow? I did and went from $50,000 cash flow to my current $120,000 cash flow and in 2 months moving to $160,000 cash flow.  Would you h...

Hey guys, been setting up my LLC this week. Want to open a business account in the LLC's name. My understanding is I need to get a tax number. Do I get this from the IRS or from the state of North Carolina? Anythi...

Hey experts was hoping to get some clarification:

The debt forgiveness act, which forgives up to $2M forgiven debt subject to taxation when the bank issues a 1099 during a short:

Is it ONLY for the first $2M of the ...

If a person does a short sale and receives a 1099 as if they collected money.. the difference between whats owed and the short sale price... Is there not tax implications?

I recently found out about a real estate investing mentor group called Lifestyles Unlimited based in Texas and decided to do some research on it. I came across a thread on this forum about the company from 2008 and ve...