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Does California conform to the tax relief act for forclosure of personal residence?

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ranchofred Joined: 24 Jul 2009 Posts: 1 1.25 Dollars($)	Posted: Fri Jul 24, 2009 2:08 pm    Post subject: Does California conform to the tax relief act for forclosure Like 0 Dislike 0 Te federal tax relief act for 2007 extended relief for forclosure of personal residence to 2012. does california conform to this in any way?
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Fri Jul 24, 2009 11:56 pm    Post subject: Like 0 Dislike 0 Hi, The Federal Mortgage Forgiveness Tax Relief Act, 2007 is applicable in California. There is also a separate tax relief act applicable in the state of California. But this applies to qualified debts forgiven in '07 and '08. The federal mortgage debt relief act applies to qualified debts forgiven from '07 to '12.

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