Posted on: 06th Nov, 2008 05:43 am
My divorce decree said I needed to quit claim my home to my ex and I would receive half of the equity in the home. I did this and received 110,000. Do I have to pay taxes on this?
Arizona
Arizona
Hi mkaiser!
Welcome to forums!
I think the home equity that you have received will be taken as an income and you will be required to pay taxes. You can consult a tax consultant and check how much taxes you will have to pay.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
I think the home equity that you have received will be taken as an income and you will be required to pay taxes. You can consult a tax consultant and check how much taxes you will have to pay.
Feel free to ask if you have further queries.
Sussane