Posted on: 12th Mar, 2013 01:00 pm
I'm selling 1.55 acres for the purchase price we bought it at 3 years ago, or should I say we are using this land as a down payment on a house, we are signing the deed over to the seller as a down payment.. I guess I need to know when I put on the deed we sold it for 27,000 do we need to do anything for taxes next year. When we first bought the land when I did taxes I didn't have to do anything as well as these past 3 years bc taxes werent substantial for us. Help!!
Don't complete the paperwork by yourself. Go to your local Escrow Office, and request assistance. They won't charge very much, and it'll get done right.
Hi robinkrzyzak,
Raymond is right in saying so. You should contact the local Escrow Office in this regard.
Thanks
Raymond is right in saying so. You should contact the local Escrow Office in this regard.
Thanks
We have an appt w a lawyer today who will be handling it all for us..after contacting many professionals about this, and since th is no gain on the land its basically a wash sale.. thanks glad we have a lawyer for the paperwork though!