In Need of Answers QUICKLY... please

[michelerc]

undefined What is the name of your state? Pa
My soon to be ex husband and i filed for a divorce in may 2001, (still not finalized).. we had 2 homes with both names on deed. I left the marital home and moved in with my father, he stayed in the marital home and he continued to rent the rental property out, which he collected the monies for rent and also used it as a loss on his income tax returns (i never seen a dime of it)finally we did our marriage settlement, we put both houses up for sale with a realtor, marital at 94,000.00 once i had agreed on a seller at 78,000 he then bought that person out at 78,001.00 (jerk). the rental sold at 42,000 but we had to pay the realtor fees on both out of that money, i got 40 of that, which went for vehicle loan, Attorney bills and others. Could sum1 please tell me who is responsible for filing that on their taxes..bcuz i didnt..i want to file bk now and i am scared to death to do it ..

 

[LdiJ]

undefined What is the name of your state? Pa
My soon to be ex husband and i filed for a divorce in may 2001, (still not finalized).. we had 2 homes with both names on deed. I left the marital home and moved in with my father, he stayed in the marital home and he continued to rent the rental property out, which he collected the monies for rent and also used it as a loss on his income tax returns (i never seen a dime of it)finally we did our marriage settlement, we put both houses up for sale with a realtor, marital at 94,000.00 once i had agreed on a seller at 78,000 he then bought that person out at 78,001.00 (jerk). the rental sold at 42,000 but we had to pay the realtor fees on both out of that money, i got 40 of that, which went for vehicle loan, Attorney bills and others. Could sum1 please tell me who is responsible for filing that on their taxes..bcuz i didnt..i want to file bk now and i am scared to death to do it ..

You may have had some capital gains due on the sale of the rental property only...or even a capital loss, depending on what your adjusted basis was. I would recommend that you get yourself an appointment with a tax attorney. It may be necessary for you to amend your return. I can however, foresee difficulties in you obtaining the necessary information from your ex to properly determine whether or not you had a gain or a loss.