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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
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Selling my parents home,base was 220000 at death, sold it on

Customer Question

Selling my parents home,base was 220000 at death, sold it on land contract,on going, for 169000 here's th question, I am making money from the contract,it not reach the 220000'so am I going to in trouble with irs?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.

Good evening. My name is ***** ***** I look forward to helping you.

Can you clarify the facts for me? When you say you are "making money from the contract," are you referring to the $169,000 contract price? Or, something else? Thanks.