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selling property

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M

missjane

Guest
What is the name of your state? fl
i have signed an agreement to sell my property. no home just land. when do i pay the taxes? if i use the money to pay off debts which equal about 30000. do i still have to pay taxes on the whole amt. the realtor said i did not on the 100000. i paid for the land but do i for the rest? thank you for the info.
 


Souix

Senior Member
missjane said:
What is the name of your state? fl
i have signed an agreement to sell my property. no home just land. when do i pay the taxes? if i use the money to pay off debts which equal about 30000. do i still have to pay taxes on the whole amt. the realtor said i did not on the 100000. i paid for the land but do i for the rest? thank you for the info.


***Do you mean income tax or property tax?***
 
M

missjane

Guest
taxes

which ever or both . i did pay property taxes for this yr which were minimal (25.00). i paid 10000 with interest for property and am selling it for 38000. i did ask the agent but she was confusing. she said i didn't have to pay taxes on the original amt i paid for land. but she didn't know if i turned around and immediately paid off a morgage for my mom and my car would i still owe taxes. and i presume she meant income taxes on the money. thanks
 

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