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An Entity of Type : prov:Entity, within Data Space : webisadb.webdatacommons.org associated with source dataset(s)

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  • If the property is an investment and not the sellers primary residence, the IRS may treat the amount of the mortgage that is forgiven by the lender as taxable income and the seller may need to come up with the cash to cover the taxes. (The homeowner should contact an accountant for any tax information or assistance).
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