Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Will the homeowner have to pay any Capitol Gains tax if they short sell their property?

April 26, 2017capitol gains Homeowner pay Property sell short tax

0

Posted

Will the homeowner have to pay any Capitol Gains tax if they short sell their property?

1 Answer

0

Posted

For an accurate response please ask your CPA or call us direct for guidance. Solutions 4 Short Sales is not, nor do we, represent ourselves as certified public accountants or lawyers. Recent legislation has shown that a short sale on a primary residence would not result in a capital gain or a 1099 from the lender, a short sale on an investment property is a case by case scenario and would require additional personal financial information.