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Sold my home. Is mortgage pay off deductible or taxable? Had
sold my home . Is mortgage pay off deductible or taxable? … read more
Chad EA, CDFA®, CFP®
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What form if any is required to be filed on forgiving $14,000 mortgage debt credit to my daughter as I previously owned a 2nd home and sold and financed the note & mortgage to her during 2016? Since t… read more
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What do I have to do on my personal tax return if I sold my 2nd home (which had been rental property) bond for deed? I still hold a mortgage on the home.… read more
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I am a us citizen and built a home in india in 2007 with funds
I am a us citizen and built a home in india in 2007 with funds from, the us and a bank loan in india and sold it in 2011. The sale proceeds are now in a bank in India and I paid capital gains taxes in… read more
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My Mom is 95, only draws SS of $1444.00 a mon. plus $300.00
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Hello, I do file a 1040NR for Federal Tax and IT-201 for
Hello, I do file a 1040NR for Federal Tax and IT-201 for State Tax (being on G4 Visa Spouse dependent, my wife works for UN and does not pay tax on her UN income). We are planning to buy an apartment … read more
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Hi, I purchased my primary residence for $377.5K and
Hi Robyn, I purchased my primary residence for $377.5K and refinanced it later for an interest only loan of $414K. The bank foreclosed it in Sep, 2010. My 2010 end of year loan statement showed a prin… read more
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Hi Merlo, Another tax question please. When we sold the
Hi Merlo, Another tax question please. When we sold the house in 2005, I had to carry back some of the sale price. We paid $280K in 1995 and sold for $500K in 2005. Then I gave a 2nd mortgage on that … read more
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Our house went into forclosure in CA. We called six months
Our house went into forclosure in CA. We called six months before we knew we could not keep up the payments. We used all our savings and part of our annunities to try and settle with the bank. We rece… read more
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Sold our house last year for a loss and the bank forgave that
Sold our house last year for a loss and the bank forgave that loss, thus a 1099-C was issued for $80k. on the date of sale, I had $90k in credit card and loan debt along with the mortgage. I know I'm … read more
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If a home is forclosed on and the property is sold for less
If a home is forclosed on and the property is sold for less than the balance owed on the mortgage, what happens to the remaining balance? Example: The mortgage balance is $165,000 and the property sel… read more
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hello my name is mark. here we go i will try to explain
hello my name is mark. here we go i will try to explain this, my principal home i got back 23 years ago was for 175,000 this is my only home now with kids and a wife i refied a coup[le of times , to t… read more
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I sold my home to my daughter for $45,000.00 in PA and my gain
I sold my home to my daughter for $45,000.00 in PA and my gain was approximately $13,000.00 after I paid off the bank loans. How much tax approximately will I have to pay on my federal income tax retu… read more
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I received an IRS tax form, I sold my house and the ...
I received an IRS tax form, I sold my house and the proceeds went to my children. I will be 68 years old this December. I was 66 years old then. Can i be exempt from these taxes?… read more
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I am a legal resident of FLA, although I do not own real ...
I am a legal resident of FLA, although I do not own real property in that state. I own a house in NJ which I spend summers in, principally visiting family members all of whom live in that state. When … read more
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my husband and our family have become residens of ...
my husband and our family have become residens of florida..can I and our chilren live in NJ so they can go to school there..my husband earns money in nj and florida pays all taxes and splits his time … read more
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