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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…

Home Foreclosure: What's Your Tax Liability?
Through 2017 (and in certain cases 2018), exceptions to federal tax laws allow some homeowners to escape additional tax liability when going through foreclosure. Read more…

Tax Tips for Foreclosures
Understanding the tax ramifications of the foreclosure process can help minimize the financial consequences. There are several possible outcomes of a bank foreclosure, and each will affect your taxes differently. Read more…

Guide to Debt Cancellation and Your Taxes
If one of your creditors canceled a debt you owe, you'll likely receive a Form 1099-C this year. A number of exceptions and exemptions can eliminate your obligations to pay tax on the canceled debt. Read more…

Tax Tips for Short Sales
Understanding how a short sale or restructure will be viewed by the Internal Revenue Service can help you plan your tax situation ahead of time. Read more…

More Debt Articles

Taxes and Reducing Debt Video: Debt Cancellation and Your Taxes Explained How Short Sales and Foreclosures Affect Your Taxes When to Use Tax Form 1099-C for Cancellation of Debt How to Avoid Taxes on Canceled Mortgage Debt Filing Taxes After Filing for Bankruptcy
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