Does anyone know if there is a way to find out if a bank will waive the difference on a balance owed from a short sale? Are there any banks that absolutely will not waive it and send a client a 1099?

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Comment by Bryant Tutas on August 16, 2014 at 7:16am

Must waive now. You will get a 1099 regardless. A short sale is a taxable event. It has nothing to do with the lender waiving the deficiency. You may not owe any taxes though. speak to a tax professional.


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