What is the name of your state? NYS
My father is buying my home from me and I am rolling the profits into building another home within the same township. What kind of paperwork do I need to have for tax purposes? I know how to file change of ownership forms with my county for property taxes, but I was wondering if I am responsible to pay taxes on the profits if I am rolling that $$ over to a new home. Any advice will be appreciated!
My father is buying my home from me and I am rolling the profits into building another home within the same township. What kind of paperwork do I need to have for tax purposes? I know how to file change of ownership forms with my county for property taxes, but I was wondering if I am responsible to pay taxes on the profits if I am rolling that $$ over to a new home. Any advice will be appreciated!