$150,000 short sale in 2012
$100,000 IRS will forgive if closed prior to Dec. 31, 2012
$150,000 short sale in 2013
$100,000 IRS will not forgive to Dec. 31, 2012
If you are thinking about selling your home which has a loan value that is higher than the current market value of that home please contact a tax professional for further advise. Once you receive tax advise from a professional please feel free to contact me, so I can advise you with options.