Re: Selling a home. Do I have to pay taxes?
Posted by Carol on 6/30/06
On 6/30/06, Cristy wrote:
> I'm selling a home that I purchased over two years ago.
> The buying price was about $63,000 and I'm selling it for
> about $150,000. I am not purchasing another home but
> instead I'm giving the gains to a family member. What, if
> any, taxes am I obligated to pay on the money I gain from
> selling the home?
Since this could have serious repercussions vise-a-vie the
IRS, you should discuss this with either your accountant or
the attorney handling the transfer. If you have neither,
get one now.
Posts on this thread, including this one
- Selling a home. Do I have to pay taxes?, 6/30/06, by Cristy.
- Re: Selling a home. Do I have to pay taxes?, 6/30/06, by Carol.
- Re: Selling a home. Do I have to pay taxes?, 6/30/06, by v.