How to figure the tax hit from a Short Sale, in 2014

I know this might be a bit too soon to ask the question but does anyone have a formula to estimate the taxes?

IE. Original sale price 350,000

Short sale price 175,000

Home improvements 55,000…

What would the 1099 be?

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Permalink Reply by Bryant Tutas on January 6, 2013 at 8:23am

Yes. Send them to a tax professional. No way I would even begin to to do this.

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