Posted on: 13th Mar, 2011 07:42 pm
Mortgage my mother held was assigned to me last year. What do I need to claim on my taxes? The interest or the interest and the principal. She had paid all the capital gains on it the year she sold the property.
You will be liable for paying property taxes. I don't think you'll be liable for paying any other taxes. Nevertheless, have a word with a tax adviser and take his opinion in this matter.