I should also say that I’m actually hoping there’s some sort of loophole or they did a short sale to one of their kids, or there was some type of strategy involved for their sake, because I hate to think of them being destitute at this point in their lives (70’s).
Thanx. That’s one of the materials I distribute to our leads. I send them to their tax preparer for final word. I tell them, I’m a RE broker and financial planner but not tax attorney, CPA or preparer. They need to hear it from them because when their audited I’ll be on some beach and they will be represented by their tax person.