What to avoid on Tax Deed and Tax Liens Sale? How do you do it best? Where?

Question

Tax Liens and Tax Deed Sales

Answer 1

Pay your Bills

Answer 2

Assuming that they lived of their abode as their crucial place of abode for a minimum of two of the 5 years today purely before the sale there'll be no CG tax due on the sale. they are way under the exclusion ceiling ($500k a married couple submitting a joint return) so until they have used the exclusion interior 2 years of the sale no CG tax is due, nor do they even could desire to notify the IRS of the sale. they could desire to shop the money for themselves! There are not any tax outcomes for themselves in the event that they do. in the event that they provide the money to their son there could desire to be present Tax outcomes for them. they could desire to easily execute a will which will divide their sources although they desire. If their sources is that small, there is not any sources taxes due, and monies won by ability of a bequest are no longer taxed to the recipient. do no longer upload them to the deed on your place! that could vastly complicate issues whilst they bypass, exceptionally in the event that they bypass without leaving a will. (and could desire to you predecease them in some catastrophic journey, your place could desire to land up interior the palms of somebody you will extremely it did no longer despite in case you have a will your self!)