Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

state and federal tax liability from sale to a party-not family

state and federal tax liability from sale to a party-not family

I recently signed a quit claim deed to a party that is not family. The mortgage on the condo was approx 120,000 with a recently appraised value of 57,000. I paid 28,000 for the unit. My question is what is my potential state and federal tax liability, I live in Ct. Thanks!


yajklis1's picture
yajklis1
29-12-2011

2 Answers
Votes
Older
Newer


1
Hi yajklis! Welcome to forums! If you sell off the property for profit, then you will be liable for paying capital gains taxes. You should contact a tax adviser and he will better assist you in this matter. Feel free to ask if you've further queries. Sussane

smith.sussane | Asked on 2011-12-29


1
Without DR DAHIRU a lot of people would have been dead through heart break. My case is not different from heart break, I am married woman with 3 kids and there was a time when i was having problem with my husband because he was having an affair outside our marriage and this was making me feel bad. So i tried finding solution to my problem by reading a lot of relationship tips on the internet and that was how i came in contact with DR DAHIRU contact details and through the help of DR DAHIRU at arewaspecialistttemple@gmail.com  my husband left the girl he was having affair with and he came back to me and our kids. After a job well done by DR DAHIRU i felt that it will be unfair if i keep this secret to myself and that is why i am going to drop the contact details of DR DAHIRU right now,or you can also reach him via this email:  arewaspecialistttemple@gmail.com  

Anonymous | Asked on 2015-06-09

Related Questions

Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Image CAPTCHA
Page loaded in 0.146 seconds.