Everyone,
The
attached is for informational purposes only. You may certainly share any
of it with clients, but remember, we are neither qualified to interpret the
laws nor can we offer any tax advice. You must advise all clients to seek
appropriate legal and tax advice from a professional regarding their individual
situation.
Not
attached are two good (but lengthy) "summaries" on Short Sales which
you can find at www.car.org. They're
titled:
1.
Taxation of Foreclosures and Short Sales
2.
Deficiency Judgments and California.
Happy Reading!
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