If I have a outstanding debt and I receive a large sum of money through a property sale and the debtor takes away
the income from the sale do I have to pay capitol gains tax ?
Asked on 7/15/18, 6:49 am
1 Answer from Attorneys
Richard Bryan
Richard Bryan Attorney PC
Yes. The tax consequences of the sale don't have anything to do with the fact you have to give them money to someone else.
Answered on 7/15/18, 8:56 am