Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

I sold my primary home in May 2013 as a short sale. I also rented it out at the time. I qualified for a short sale because I had to relocate over 230 miles to gain employment and I had only rented it for 15 months total before the sale was finalized. How do I file? Do I simply submit the 982 and the Schedule E and that's it? My understanding is that I do not have to pay taxes on the amount canceled on the 1099-C form I received; is this correct?

Schedule-E Short Sale 1099c
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Kathryn Morgan
There are many, many variables in the short sale of a primary residence/rental home. Much of,it depends on timing of the sale versus timing of the actual cancellation of debt versus recapture of depreciation. It is really not accurately possible,to answer your question without a detailed interview. Please consider hiring an EA for a professional job on your taxes this year. It could make a ton of difference in the years to come.
Leave a Comment 355 weeks ago

Meet Leading Tax Advisors

User Photo John Stancil



User Photo Peter J. Scalise

Federal Tax Credits & Incentives Practice Leader

New York, NY

User Photo John Dundon, II EA

Tax Director

Denver, CO

User Photo John Richardson


Toronto, Canada

User Photo William Rogers, CFP, MBA, EA

CEO/Certified Financial Advisor

Rancho Santa Fe, CA

User Photo Monika Miles


San Jose, CA

User Photo Blake Christian

Tax Partner

Long Beach/ Park City, CA


View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page



Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today