Capital gain taxes for quit claim.
My wife and I are getting a divorce.
Instead of selling the house outright she
will buy me out and I will sign a quit claim.
Will my payment from her be considered a
capital gain or will I have to pay taxes on
the money received?
Re: Capital gain taxes for quit claim.
see:
http://www.irs.gov/pub/irs-pdf/p504.pdf
Donald Field
Donald L. Field, Jr., Attorney at Law
400 Montgomery Street, 6th Floor
San Francisco, CA 94104-1217