FARM Letter: Shortsale and foreclosure sale discounts: common tax reporting mistakes
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About The Author
ft Editorial Staff
is the writing staff comprised of legal editor Fred Crane, In-House Broker Consultant Fernando Nunez and writer-editors Connor P. Wallmark, Giang Hoang-Burdette, Jeffery Marino, Carrie B. Reyes, Sarah Cantino, Matthew Taylor, Matthew Shade and Nicole Jessen.
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Hello,
In the article you made a reference to a fact I wan’t familar and would like your clearifications please:
“For the sale of a property other than your principal residence. … unless the loan has nonrecourse purchase-money status under California antideficiency law.”
Does it mean that in CA either a: vacation, rental or owner occupied homes have the same exclusion from tax libility?
Thank you,
Victor
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