Legal Question in Real Estate Law in California

Are taxes considered payable on Option Payments as received or upon close of escrow?


Asked on 11/22/11, 5:35 pm

1 Answer from Attorneys

David Gibbs The Gibbs Law Firm, APC

This isn't a real estate question, rather, it is a tax question which needs to be posed to a tax attorney or CPA. I would suggest re-posting to the Tax side of this board.

*Due to the limitations of the LawGuru Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. Further, information you provide to the Firm through this website is not confidential - it is available publicly to anyone visiting this website. The Firm shall have no obligation to keep the information you provide herein confidential in any context. The information provided herein by the Firm is general, and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence. As required by 11 U.S.C. �528, we must now disclose that, "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Assistance we provide with respect to Debt Relief may involve bankruptcy relief under the Bankruptcy Code."

Read more
Answered on 11/23/11, 11:39 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in California