Thread: Tax question
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Old 01-20-2010, 07:36 AM   #15 (permalink)
phantom21
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Join Date: Jul 2009
Location: South Carolina
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I was lucky enough to marry into my tax debt. Long, complicated, SAD story short, wife now/GF then mom passed away and she couldn't continue making house payments. Had to let it foreclose. Well, neither of us knew of the new law that went into effect that year of you must claim the "erased" debt as income for that year...2 years later, we get a letter saying we owed over 10K to the Feds and 3K to the state. I did ALOT of digging and calling and couldnt find a loop hole...this is how my turbo went away ;( $1600 and I'm done with these crooks.
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