I'm short selling my house very soon. Does anybody know
if this law is final? I don't want the difference in the short
sell to count as income.
2007-10-19 09:57:10 · 4 answers · asked by ungoliant2 2 in Business & Finance ➔ Renting & Real Estate
2008 is the first targeted year...
2007-10-19 10:04:12 · answer #1 · answered by rukidden99 3 · 0⤊ 0⤋
It will be veto'd for sure if it makes it that far. The majority of the people are against any kind of bailout for those that where fiscally irresponsible. If this bill goes through then I also think my year end bonus should not be taxed as income. Would only be fair.
2007-10-20 13:59:48 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋
I'm anxious about this, too. We're also hoping to complete a short sale very. . . shortly. :)
The best I can tell is that it has been (overwhelmingly) passed by the house but the senate still needs to pass it. Despite all my searching, I can't find a date scheduled for them to vote on it. Write your local senators!
??? And I agree w/ prior poster--it is supposed to be retroactive to Jan 1, '07
2007-10-20 11:39:56 · answer #3 · answered by Jessica A 1 · 0⤊ 0⤋
From what I've heard it will be retro as of Jan 07
2007-10-19 22:22:58 · answer #4 · answered by Anonymous · 0⤊ 0⤋