Sunday, June 05, 2005
Selling house at a loss could have nasty tax implications -- Kathleen Pender, San Francisco Chronicle
Selling house at a loss could have nasty tax implications: "Everyone knows residential real estate is a wonderful tax shelter. What's less well known are some of the tax disadvantages that can bite homeowners when they sell at a loss or wind up losing a house that is worth less than they owe on it.
With home prices soaring and foreclosure activity close to nil in the Bay Area, this is not something most homeowners are thinking about.
In the nine-county Bay Area, there were only 39 residential foreclosure sales in April, down from 46 in March, according to DataQuick."
With home prices soaring and foreclosure activity close to nil in the Bay Area, this is not something most homeowners are thinking about.
In the nine-county Bay Area, there were only 39 residential foreclosure sales in April, down from 46 in March, according to DataQuick."
