The Mortgage Forgiveness Debt Relief Act has been extended - TopicsExpress

The Mortgage Forgiveness Debt Relief Act has been extended retroactively through December 31, 2014. If they qualify, homeowners who complete a short sale before December 31, 2014 will not have to pay taxes on their forgiven debt. Future extensions for 2015 are uncertain, but here is information about an alternative method that gives short sale sellers exemption from tax liability in 2015. washortsales/newsletter/mgoldberg/mortgage-forgiveness-debt-relief-act-2014/

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