I am working on a few short sales and I am wondering at what tax percentage the sellers will be taxed for the amount charged off of the loan and 1099 to the IRS.
Is it regular income tax rate or 15% capital gains tax rate?
Thanks,
Shaun Greer, Boise, Idaho
It’s income, not Capital Gain…it’s money they borrowed and scammed the lender out of.
Keith
Thanks,
Man I love this site…
Shaun Greer, Boise, Idaho