Short sale tax shortchanges ex-homeowners

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Tara Blackwell and her husband sold their Fairfield house in December for about half of its original $825,000 price as a short sale, in which the bank agrees to accept less than is owed on the mortgage.

The couple and their two children moved in with Blackwell’s parents and thought the situation was behind them. Then it came time to pay their 2009 taxes.

Full story: Short sale tax shortchanges ex-homeowner via San Francisco Chronicle