The cyber world was abuzz when the Twilight heartthrob appeared across the web posing on a "leaked" January 7 cover image of the magazine, proclaiming his homosexuality.
But the ladies are still in with a chance after People Magazine confirmed to website Gossip Cop the cover is "absolutely fake".
"The cover in question is 100 percent fake. This began as a ridiculous Twitter joke that went viral," People Magazine spokeswoman Julie Farin said.
Taylor was falsely quoted as saying he was sick and tired of the rumours and coming out made him feel “more liberated, and happier than I have ever been”.
The holiday viral hoax fooled many fans, including Russell Simmons who tweeted saying he was "proud of Taylor Lautner for his bravery and his courage".
Upon finding out about the hoax, he said he was disappointed people would joke about sexuality and to let "Taylor Lautner be whoever he wants to be".
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