Taxes / Resources

Asset Liquidators provides real estate services. 

 Many of our clients do not have tax liability 
as a result of a Short Sale.  
 
Please contact a CPA for tax advice to determine how your Short Sale transaction will be treated for tax purposes.  
We do not give tax advice.

Whenever you sell a property it is a tax reportable event. Foreclosures and Short Sales are are considered a home sale and therefor they must be reported as such on your State and Federal tax return. There is a lot of factors to be considered when trying to determine if your sale will result in taxable income to you. Tax laws are always changing, we recommend that you contact a CPA for the particular tax treatment of your transaction.

There maybe tax exemptions available that you qualify for.

The following link to an IRS web page titled, 
"Home foreclosure and Debit Cancellation" contains some helpfull information,

http://www.irs.gov/newsroom/article/0,,id=174034,00.html

Please contact a CPA for tax advice to determine how your Short Sale transaction will be treated for tax purposes.