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March 18, 2010

Calif. short sellers facing big tax bills

By JUDY LIN
Associated Press Writer

SACRAMENTO, Calif. — What should have been a legislative afterthought is threatening to become a financial purgatory for thousands of California taxpayers hit by the housing crisis.

With less than a month until tax filings are due, struggling Californians who received mortgage modifications or lost their homes in short sales or foreclosures last year face the prospect of huge state tax bills.


 
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