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Updated almost 11 years ago,

Teddy Patrick jr's profile image
Teddy Patrick jr's profile image
Teddy Patrick jr
  • Contractor
  • from gastonia, North Carolina
  • Member since Jul 14, 2009
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42
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2
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Teddy Patrick jr's profile image
Teddy Patrick jr's profile image
Teddy Patrick jr
  • Contractor
  • from gastonia, North Carolina
  • Member since Jul 14, 2009
Connect
Teddy Patrick jr
  • Contractor
  • gastonia, NC
2
Votes |
42
Posts
Buying & Selling Real Estate

Question about capital gains tax

Teddy Patrick jr
  • Contractor
  • gastonia, NC
Posted

I am getting ready to purchase a property in NC using private funds...I am also going to purchase the property for me and my wife to live in...There is about a 50k spread on the purchase and was wondering if I sell it to myself and make 50k on it will I have to pay taxes on the cash? I am using bank financing to sell it to myself....

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