Debt Tax Tips

Recent Articles

How to Report a Foreclosed Rental House on Your Taxes
The IRS requires you to report the gain or loss on a foreclosure on your tax return. Read more…

How Short Sales and Foreclosures Affect Your Taxes
If you engage in a short sale or your mortgage lender forecloses on your home, there are some important tax implications that you'll want to consider. Read more…

How to Avoid Taxes on Canceled Mortgage Debt
If you lost your principal residence to a foreclosure or short sale, TurboTax can help you deal with the tax implications, including recent tax law changes that can offer some relief. Read more…

When to Use Tax Form 1099-C for Cancellation of Debt
In most situations, if you receive a Form 1099-C from a lender after negotiating a debt cancellation with them, you'll have to report the amount on that form to the Internal Revenue Service as taxable income. Certain exceptions do apply. Read more…

Filing Taxes After Filing for Bankruptcy
Filing an income tax return after filing for bankruptcy does not have to be a problem, as long as you know what to watch out for, including when and how to file. Read more…