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Foreclosure/Bankruptcy/Taxes/Oregon Oregon

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  • Foreclosure/Bankruptcy/Taxes/Oregon Oregon

    Ok this is complicated and I am not sure if this is where this belongs.

    My wife got divorced from her previous husband in 2007. He kept the house but she did not get off of the loan or deed. She had multiple financial problems and a failed business, and declared chapter 7 in 2008. Information about the house was included in the bankruptcy.

    We were married in 2009.

    In 2009 her ex let his house (ie her deed and loan) go into foreclosure. I recieved an aquisition or abandonment of secured property tax form from the house lender. It basically states that there is a $44k difference between the loan amount and the fair market value.

    The question is are we liable for the tax on $44k income?