If I sell a piece of income property, a single family house, for much less than [Archive] - Real Estate Insider Forum
 
Web realestateinsider.net

View Full Version : If I sell a piece of income property, a single family house, for much less than


gayannboxing
09-03-2007, 08:54 PM
I paid, Do I have to pay tax,? a business tax sales tax?

CJKatl
09-04-2007, 10:51 AM
Depends on many factors, including how long you owned the property, how much depreciation you took, and what other expenses you had and deducted previously.CORRECTIONDid not read question carefully. Thought you were talking about income tax. Depending on your location, there will be several taxes due, such as transfer tax, recording tax, etc. But not sales tax.

Pojo
09-05-2007, 02:03 AM
Listen to CJ not DrI'd thumbs up the reply by CJ but I haven't posted enough yet :(