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My wife and I did a chapter 11 bankruptcy after 2008. The…

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My wife and I did...
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: 2 years ago.Category: Tax
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Answered in 33 minutes by:
3/6/2016
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 2 years ago
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,038
Experience: 35 years tax experience, including four years at a Big 4 firm.
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Hi from just answer. I'm PDtax. I can assist.

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

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Customer reply replied 2 years ago
No thanks, ***** ***** on SS now.
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 2 years ago

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

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