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Tax responsibility with Deed in Lieu

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hat

Junior Member
What is the name of your state? FL

I read in a post that a deed in lieu has tax responsibilies. My husband's and mine BK was discharged in 9/2003 and home went back to mortgage company by deed in lieu and we received a satisfaction. Deed was recorded 1/05. What kind of taxes am I going to be responsible for when income tax comes around. The house was appraised at $186,000. I didn't know there were tax responsibilities connected to this. Thanks
 


seniorjudge

Senior Member
Check with your tax professional.

If you did not receive any income off this deal, then you owe no income taxes.

However, no one here knows your full story.
 

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