Comments on: Is foreclosure debt relief still taxed or not? http://asapdebthelp.com/2010/01/debt-relief/is-foreclosure-debt-relief-still-taxed-or-not/ Information about getting help handling debt Tue, 02 Feb 2010 21:38:04 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: spicertax http://asapdebthelp.com/2010/01/debt-relief/is-foreclosure-debt-relief-still-taxed-or-not/comment-page-1/#comment-1435 spicertax Sat, 23 Jan 2010 23:46:53 +0000 http://asapdebthelp.com/2010/01/debt-relief/is-foreclosure-debt-relief-still-taxed-or-not/#comment-1435 <a href="---"></a> See this link.

See this link.

]]> By: patrick http://asapdebthelp.com/2010/01/debt-relief/is-foreclosure-debt-relief-still-taxed-or-not/comment-page-1/#comment-1434 patrick Thu, 21 Jan 2010 20:46:44 +0000 http://asapdebthelp.com/2010/01/debt-relief/is-foreclosure-debt-relief-still-taxed-or-not/#comment-1434 <a href="---"></a> Mortgage foreclosure is still considered to be taxable by the IRS.

Mortgage foreclosure is still considered to be taxable by the IRS.

]]> By: v b http://asapdebthelp.com/2010/01/debt-relief/is-foreclosure-debt-relief-still-taxed-or-not/comment-page-1/#comment-1433 v b Thu, 21 Jan 2010 17:45:20 +0000 http://asapdebthelp.com/2010/01/debt-relief/is-foreclosure-debt-relief-still-taxed-or-not/#comment-1433 <a href="---"></a> It passed. Criteria: Cancelled in 2007,8,9 only. Taxpayer not in bankruptcy. Lived in/Owned it for 2 years as main home. Debt less than $2Million. Money was only from buying, building or improving home. (No cashouts). Any money not included in income is deducted from basis of house (but not below zero). See form 982. (If you don't use the form, it's considered other income.)

It passed.

Criteria:
Cancelled in 2007,8,9 only.
Taxpayer not in bankruptcy.
Lived in/Owned it for 2 years as main home.
Debt less than $2Million.
Money was only from buying, building or improving home.
(No cashouts).
Any money not included in income is deducted from basis of house (but not below zero).

See form 982. (If you don’t use the form, it’s considered other income.)

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