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My husband and I have divorced and he is signing the quitcla

Posted on: 21st Nov, 2007 10:20 am
property to me. We were both on the original deed. Will I have to pay capital gains tax if I am already on the deed, and no money was exchanged in the property transfer?
no you already own the property
Posted on: 21st Nov, 2007 11:15 am
Hi Sison,

You need not to pay any capital gain tax here. Over here you are not selling any property. It will be applicable on selling a property with profit
Posted on: 22nd Nov, 2007 01:30 am
Hello Sison,

I completely agree with the above posters. You do not have to pay a capital gains tax if you are not selling the property.

You will owe capital gains tax if you sell your property at a higher price than your cost basis.

You will get further information on capital gains here at http://www.mortgagefit.com/know-how/capitalgainstax.html
Have a look at it.
Posted on: 22nd Nov, 2007 05:07 am
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