buyer of real estate in a short sale. Tax rams?

[schirallicpa]

client is buying a house and the realtor has just told her it is a short sale.   Wanting to avoid any potential problems, but just thinking out loud - are there any possible tax ramifications?

[rfassett]

Not for the buyer.  The basis is figured the same as the figuring of any other purchase basis  My comments assume an arms length transaction.