I have an o/o home converted it as rental in 2007. plan to short sale it, am i liable for taxesI live and own a home for over 10 yrs and convert it to a rental property in 2007, right now I can't afford the monthly payment anymore no one is renting. I defaulted my payments. My question is would I be liable for any taxes if I sell it lower than how much I owe?April 23 2009 - North Highlands00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.