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I sold part of my property to pay my past due mortgages and save my home do i have to pay tax on that money?

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I sold part of my property to pay my past due mortgages and save my home do i have to pay tax on that money?

Postby tarrant37 » Tue Jul 23, 2013 10:52 pm

if you made a profit, of course
tarrant37
 
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I sold part of my property to pay my past due mortgages and save my home do i have to pay tax on that money?

Postby ryuu10 » Tue Jul 23, 2013 10:57 pm

Well, yes, if you sold it for more than your basis for that part of the property.
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