I've lived in my home for 5 1/2 years. Due to some problems with the old mortgage group, we had to sell the home to my parents a year ago. If we bought the house from my parents now would I have to pay capital gains? I really need this house in my name.
ANSWERS: 1
Sort by: Highest Rated
-
Capital gains are paid by the seller, not the buyer, and they are paid on the profits of the sale. If the sale is for the same amount as they originally paid you, they would have no profit, and no taxes. -
No comments
RELATED QUESTIONS
RELATED TOPICS
ABOUT ANSWERBAG
Answerbag wants to provide a service to people looking for answers and a good conversation. Ask away and we will do our best to answer or find someone who can.We try to vet our answers to get you the most acurate answers.
Copyright 2023, Wired Ivy, LLC

by