Will the IRS treat the foreclosed home as a second home? Posted on October 17, 2010
The principal house of my friend foreclosed in 2009. He moved to another property that belongs to him. But his sister and parents lived there as well. Can the principal house be qualified to be discharged although he has two houses in his name? Can the IRS treat the foreclosed home to be a second home and disqualified for tax forgiveness?
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