Rental Property

[S T]

Would anyone know or have experience, for tax implications

California Rental Property - is it better to short sale the property or let the property go to foreclosure?

If the current loan on the property is a negative amortization loan how does that factor into the tax implications if a short sale or a foreclosure?



Sandy

[BHoffman]

Not sure, but I think a short sale has less of an impact on the owner's credit rating.

[geekgirldany]

Here is a post on the taxalmanac:

http://www.taxalmanac.org/index.php/Discussion:Foreclosure_vs_Short_Sale_Tax_Implications

I also typed in google "short sale or foreclosure tax implications"

Several website come up.