Hopefully You’re on The Other Side of This

Cancellation of Debt (forgiveness) The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude up to $2 million of forgiven debt ($1 million if married filing separately) from the discharge of debt on their principal residence through foreclosure, restructuring, or short sale, thorough December 31, 2016. Tax Tip: If you are in such an […]