This is the tax assessed to a properties loss when there is a short sale done. I know this has passed the house of reps but was wondering if anyone knew if it passed the Senate? This would make it final I believe. If passed, it would not allow lenders to send out 1099 to foreclosured upon homeowners for taxes on the amount of loss the lender took. Any word would be great…well not just any word but any word that pertains to this subject would be great. Thanks! Sheila

I had the same question today…

I found we can keep track of these things here:

No changes since House signed in Oct though in the:

“H.R. 3648: Mortgage Forgiveness Debt Relief Act of 2007”

Chris Smith