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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
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My wife and I did a chapter 11 bankruptcy after 2008. The

Customer Question

My wife and I did a chapter 11 bankruptcy after 2008. The banks did not comply with the terms of the court. My wife and I separated and she managed the properties until April of this of 2015. The banks would not take the payments sent to them. We paid the taxes and insurance as long as we could and kept the properties in repair as rentals. The banks began foreclosing, taking the properties to auction.
My question is when the banks sell our properties and make a profit on them ,that we are being taxed on, where does that profit go? Does the bank keep it?
Submitted: 9 months ago.
Category: Tax
Expert:  PDtax replied 9 months ago.

Hi from just answer. I'm PDtax. I can assist.

The question is complicated, and I need more information to assess your situation. The extra complexity and time suggest our premium service.

I will offer you more time to review your situation and advise. Accept, and I can assist this morning.

Customer: replied 9 months ago.
No thanks, ***** ***** on SS now.
Expert:  PDtax replied 9 months ago.

I'll tell customer service to close out your request and refund your payment.