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15 posts tagged with taxes and realestate. (View popular tags)
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Who should I consult, and in which state, for tax advice?

I am not sure whether to consult a CPA or a tax attorney for this. I currently live in Chicago. My brother lives in Louisiana. I am, separately, the trustee of a trust for him and his designated power of attorney. While in Louisiana, I sold his primary residence acting as his POA. I deposited the proceeds from the sale into the trust. No 1099 was issued for the home sale. Howwww do I report this to the IRS? [more inside]
posted by liketitanic on Mar 11, 2013 - 5 answers

Selling rental property. Have some questions

I am selling a rental house and I have some questions about taxes etc. I know YANMCPA, but if you could point me to a place I can read some clear information, I would appreciate it. [more inside]
posted by mikedelic on Feb 5, 2013 - 4 answers

Tax implications of being "bought out" of a percentage of a realty trust

My two sisters and I were equal beneficiaries in a realty trust. This past year, my older sister bought my 1/3 share (as well as that of my sister.) According to the legal documents, it was a "transfer of beneficial interest". Other than signing and notarizing the documents to transfer the real estate share, nothing else official occurred and my sister just paid us our fair share of the assessed market value. She is not planning on reporting the transaction. I have no idea if I owe taxes on the money I've received (and will also be receiving this year - it was divided into a few payments) and if so, what kind of tax that might be. [more inside]
posted by nekton on Jan 24, 2013 - 10 answers

Working & renting in one state and owning a home in another

My husband and I are moving to NYC for work, but we own a condo in MA. Should we try to maintain MA as our legal, permanent domicile or should we just give in and call that our second home? What are the implications of working & renting in one state and owning a home in another? [more inside]
posted by isthenewblack on Jan 6, 2013 - 9 answers

Selling Real Estate, and Not Buying Again Immediately

My house sold earlier this month. I am not buying a new house right away, but... maybe? How long can I wait? How will this affect taxes? And if I could buy property, should I in order to avoid penalties (if there are any)? You are not my lawyer or my accountant, but way more details with a little bit of drama after the jump. [more inside]
posted by aabbbiee on Jun 28, 2012 - 10 answers

Looking for a real estate tax/legal professional in the Twin Cities

I need recommendations for an accountant, tax lawyer, or real estate lawyer in the Twin Cities. [more inside]
posted by peanut_mcgillicuty on Nov 14, 2011 - 3 answers

Tricky ways to get property

I've heard that a person can acquire a property for which the property taxes are in default by paying the back taxes. This seems fishy, and morally questionable, but is it true? In Los Angeles? Are there other tricky ways to acquire property?
posted by gilgamix on May 9, 2010 - 12 answers

Is $8k worth rushing this?

How bad an idea would it be to try to buy a condo before the new homeowner credit deadline (April 30th)? [more inside]
posted by smackfu on Mar 22, 2010 - 10 answers

Do you have to pay taxes on money paid during a seller rent-back?

You buy a house in California. You agree that the seller can stay up to 2 months after escrow closes (a "seller rent-back") if they make your (PITI) payments. Do you need to pay income taxes on the money they pay toward your PITI? Also, what was your "seller rent-back" experience? [more inside]
posted by unclezeb on Sep 29, 2009 - 9 answers

Need help appealing a real estate assessment?

Where to find data to appeal a real estate assessment? [more inside]
posted by justkevin on Jul 7, 2009 - 3 answers

How do I pay off losses at a home sale?

What is the best option for paying off a mortgage when I take a loss on a condo sale - and are there any tax deductions I can take? [more inside]
posted by reckman on Jan 11, 2008 - 6 answers

Home is where the debt is?

I'm a woman, divorced, being audited by the IRS, in some credit card debt and have problems with my rental history. Should I sell my home? [more inside]
posted by anonymous on Oct 9, 2007 - 14 answers

American buying apt in Berlin

I am an American interested in buying property in Berlin. Do any other Americans with experience in this have any advice to offer? [more inside]
posted by suisse on Apr 30, 2007 - 2 answers

Tax Reform Proposals

The new tax reform proposals: what will happen next? The tax reform committee recommendations that were just announced are potentially a big problem for my family.... [more inside]
posted by Instrumental on Nov 12, 2005 - 5 answers

If I stay in a new home while selling an old one, can I still avoid capital gains taxes?

CapitalgainsFilter: I bought a new house and my old house is set to go on the market on Monday. I'm just two months shy of the 2 years minimum residence requirement for avoiding capital gains taxes, and will make sure the old house isn't sold before that cut-off date. But do I really have to sleep in the old house all the way up to the end date? [more inside]
posted by anonymous on Jul 29, 2005 - 7 answers

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