Those who lose homes may face state tax hit

By: Kathleen Pender
Published: August 2009

Californians who lose their homes in a foreclosure, short-sale or deed in lieu of foreclosure this year could be hit with a state income tax on canceled or forgiven debt.

To read full article see: http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2009/08/25/BUBM19D2P7.DTL