No, you pay inheritance tax and, ultimately, property tax as the owner.
can you pay state income tax on line with credit card and mail the form
How much tax would you pay on 50,000.00 if sould house for short sale
I just gave to my house title to my son (21 years old). The title has life estate in it. Is there is any gift tax do i have to pay? or my son have to pay any tax? I live in California jamie
Inheritance tax is the tax that you have to pay if you gain some kind of income through an inheritance fund. It is like adding to the income you gain through inheritance.
You pay tax on the profit from a sale. And get a tax benefit from a loss.
No, you pay inheritance tax and, ultimately, property tax as the owner.
can you pay state income tax on line with credit card and mail the form
No
Sell the house AS-IS and show that as the actual value of the prize you received then pay tax of that amount you received (not the amount qouted by the sweepstakes).
Yes it is always possible that may be required to pay some capital gains tax on the sale of your first house.
How much tax would you pay on 50,000.00 if sould house for short sale
No. Banks will pay the property tax before they foreclose to make sure the government does not place a lien on the house; thus, not allowing them to take ownership.
Do you have to pay taxes on deceased mother's house when it sells
I just gave to my house title to my son (21 years old). The title has life estate in it. Is there is any gift tax do i have to pay? or my son have to pay any tax? I live in California jamie
You should negotiate about tax with house owner
No but if you owe income tax and the income tax people claim that you owe them money they are in a position to sell the house you bought from under you to pay for the income tax you did not pay. other then that there are any number of charges levies and taxes associated with the purchase of a house. House buying is a real cash-cow for the government and the legal professionals.