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SHORT SALE TAX IMPLICATIONS
I have just enlisted The Short Sale Service, to assist me in a short sale for my rental. The tenant's boyfriend wants to purchase the property. The plan is to simultaneously do the short sale and sell the property to him.
I have a question on the tax implications for me that I will also post in the Tax & Legal section. Do I pay capital gains on the difference? Will a land trust help with the taxes?
If you have any knowledge please let me know.
THANKS!