Bucit
New Member
- Mar 12, 2010
- 3,144
- Boat Info
- 2005 280 Sundancer
2004 SPD-104 Achilles w/ 8hp Yamaha
- Engines
- Twin 4.3 MPI's with Alpha drives.
Correct me if I'm wrong...in a shortsale situation, if the lender forgives the additional 20K owed, you must pay income tax on that 20K (??)
If they "forgive" the difference then you WILL pay taxes on it. That's how a lot of people get in trouble and end up with an IRS Judgement against them.