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Old 03-19-2015, 01:32 AM
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Insolvency did not include our current mortgage balance

In 2013 we short sold our rental home at a loss. We hired a CPA to figure if we were insolvent or not. She claimed we were not and therefore paid a huge income tax that what was reported as cancellation of debt/income. However we have discovered that the balanced owed on our primary home was not included as a liability which would have made us insolvent and not having to pay taxes on 57000.00. Can we ammend out 2013 federal taxes and get our money back?



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