Posted on: 03rd Sep, 2007 04:34 am
how do you figue the taxes on 247.900
Hi Donnamlucas,
I will not be able to tell you the exact figure at this moment. If you want to know now, you can take the help of a tax advisor. He will be able to tel you the exact rate.
You can also know it from the county recorder's office.
I will not be able to tell you the exact figure at this moment. If you want to know now, you can take the help of a tax advisor. He will be able to tel you the exact rate.
You can also know it from the county recorder's office.
Realty conveyance tax for Rhode island is $2 per $500 and the transfer fee rate is 0.4%
"Taxes after a deed in lieu"
"how do you figue the taxes on 247.900"
Let me give one example;
If fair market value of your house is $80,000 & the balance on the mortgage is $110,000 then COD income (or cancellation of debt income) will be $30,000. This amount you will have to include on your tax returns while calculating taxable income.
"how do you figue the taxes on 247.900"
Let me give one example;
If fair market value of your house is $80,000 & the balance on the mortgage is $110,000 then COD income (or cancellation of debt income) will be $30,000. This amount you will have to include on your tax returns while calculating taxable income.