0
How do you pay taxes on a house when you don't have enough cash and the IRS demands payment up front?
Wiki User
∙ 12y ago
You better get much more of an understanding of what your involved with, and some true personal help.
First - The IRS (Federal) is not involved with taxing the sale of your house, certainly not "up front". The sale of your personal residence is tax free under most all circumstances, and at most, taxable years after as part of your income tax return - and ONLY if you made money (so paying the tax wouldn't seem to be much of a problem).
State & Local property taxes may be, and do need to be paid to date before someone will take title, (or they would remain as a debt from the property the new owner has to pay). Of course your property tax is normally already paid by the mortgage company and becomes part of your monthly payment (like insurance) because the lender wants to make sure they are paid.
There may be some (generally very small) taxes or charges from recoding paperwork or such, but thats all.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Average house payment?
The average house payment depends on the size of the house and the location it is in. High-violence locations have cheap house payments for example.
What is a monthly payment called?
Amonthley payment on a house is called a "Mortgage"
If separated does husband still owe half the house payment?
It all depends on whose name is on the house. If his name isn't on the house, then he doesn't have to pay half of the house payment.
Marias new house cost 235000 The down payment was 0.5 of the cost of the house How much was the down payment?
47.000
How can one pay cash for houses?
If you have accumulated enough money to pay cash for a house you would present the payment for the house to realtor or lawyer that represents the current owned of the house at the closing. It is likely that they would require a cashiers check for a sum that large.
What are the benefits of remortgage?
If you cannot afford to pay your monthly house payment it would benefit you to remortgage it for what you owe on your house if it would cut down your payment enough so you could afford it.
How can you get your own house?
The simplest way: make enough money to place an offer on one and enough to continue paying the monthly payment.
You only have enough money to make your credit card payment or house payment Which should you do?
Keep a roof over your head first..... then work on negotiating the cc debt
Should you tip your house cleaner?
It depends on different house cleaners. Some house cleaner demands for tip but some demands only their working fee.
Average house payment?
The average house payment depends on the size of the house and the location it is in. High-violence locations have cheap house payments for example.
Problems faced by adult elearners?
Adult elearners may face challenges such as time management due to work and family commitments, technical issues with online platforms, and difficulties in staying motivated to complete courses independently. Additionally, they may struggle with adapting to new learning methods if they are used to more traditional forms of education.
What do i need to buy a house?
You need either enough cash to pay the selling price or a down payment, a good credit history and a steady job.
What is a monthly payment called?
Amonthley payment on a house is called a "Mortgage"
If separated does husband still owe half the house payment?
It all depends on whose name is on the house. If his name isn't on the house, then he doesn't have to pay half of the house payment.
Marias new house cost 235000 The down payment was 0.5 of the cost of the house How much was the down payment?
47.000
What are examples of goal?
Examples would be putting aside collehe tuition money for your 12 year old or accumulating enough money to for a down payment for a house
How can one pay cash for houses?
If you have accumulated enough money to pay cash for a house you would present the payment for the house to realtor or lawyer that represents the current owned of the house at the closing. It is likely that they would require a cashiers check for a sum that large.
