Idaho Short Sale- What IRS Form do I use for forgiven debt?

Many Idaho home sellers were able to avoid foreclosure by going through the short sale process.

Often times, the short sale lender will issue the home seller a 1099-c form.  This information must be reported on your annual income tax return.

For most home owners who short sold their primary residence, this forgiven debt may be non-taxable. It is important to consult your tax professional or attorney for taxation issues.

The Debt Forgiveness Act of 2007 offers forgiveness of income tax for forgiven debt to most home owners. This Act was extended through the end of 2012. Though most home sellers may not have to pay taxes on the foregiven debt, there are exceptions.

Meridian Idaho Housing Market, Strong

The numbers are in. Throughout the Treasure Valley, Meridian holds the highest average sales price for single-family homes, as of Dec. 1, 2011.  With an average sold price of $173,279, Meridian real estate tops all of Canyon County at $95,473 and even it's big brother community with homes in Boise, coming in at $163,354.

Taking a look at Treasure Valley home prices

Since November of 2007, it seems as though the average sales price for Boise area homes has been on a steady decline. If you look at the chart below, however, we seem to be experiencing a trend of stabilization!

With inventory levels being lower than times past, the law of supply and demand have helped prices stabilize to some degree for the Boise valley, but is this truly the bottom for Idaho home prices?

Boise Idaho Ranked by Money Magazine as #3 City for Retirement

Boise has quite a variety of "things to do" and can compete with most larger cities in the US. 

With hunting, fishing, skiing, biking, cultural events, Boise, Idaho offers excellent opportunities for not only the working Joe, but for those who are ready to retire.

The low crime rate is especially attractive in the Treasure Valley.  Population of just over 200,000, Boise offers a cost of living that is 97% of the national median, a median home price of just $120,000, a median property tax of only $1590 and a state sales tax of 6%.

Idaho Real Estate Broker Goes the Extra Mile by Marketing in a Down Economy

Nampa, ID - As many real estate agents are cutting their marketing budgets, Idaho REALTOR® Don Wixom is going the extra mile to market his clients' listings in this tough market with a fully wrapped Honda CR-Z that has already turned heads around town.

Wixom, who already stands out online for his top Google-ranking website selling Idaho real estate, www.sellidaho.com, is one of the most visible agents on the road with his brightly colored Honda CR-Z.