Bucci Law Offices
We provide tax representation for clients worldwide
MIAMI BEACH 305-340-2275
FORT LAUDERDALE 954-900-9107
TOLL FREE 800-743-4263

March 2010 Archives

Discharge of Indebtedness Income from Short Sale - Will You Receive a 1099?

A taxpayer should be very wary when entering into a short sale without considering the tax consequences. A short sale looks better than foreclosure because the taxpayer is forgiving a debt and the lender essentially agrees to take the loss. However, although the debt is forgiven to the lender, the IRS does not generally afford the taxpayer such favorable treatment.

Bucci Law Offices

Fort Lauderdale Office
2600 North Andrews Avenue
Fort Lauderdale, FL 33311

Toll Free: 800-743-4263
Phone: 954-900-9107
Fax: 954-764-4401
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Miami Beach Office
1130 Washington Avenue, 3rd Floor, Suite B
Miami Beach, FL 33139

Toll Free: 800-743-4263
Phone: 305-340-2275
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