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• 1. A

     What are taxes on this HUD benefit?

     Hi, I recently bought a house using HUD's Good Neighbor Next Door Program. What taxes do I owe on the purchase price reduction? Does the purchase price discount count as income for federal income tax? For social security and other payroll taxes? If so, is the tax due prorated in thirds over...

     • alyssumlover
     • Thread
     • Dec 15, 2013
     • Replies: 3
     • Forum: Tax Law
  2. A

     Question about definitions in HUD contract

     If one purchases a property through HUD's "Good Neighbor Next Door Program", they must, once a year, sign and return a small form affirming the following: "I CERTIFY THAT I OWN, AND SINCE THE AGREED UPON OCCUPANCY START DATE, HAVE CONTINUOUSLY RESIDED IN THE ABOVE SUBJECT PROPERTY AS MY SOLE...

     • alyssumlover
     • Thread
     • Dec 9, 2013
     • Replies: 6
     • Forum: Other Real Estate Law Questions