Stormy Kromer
Thinks s/he gets paid by the post
- Joined
- Oct 1, 2017
- Messages
- 1,160
What does the realtor think ? Will they still get their 6% of the $50k ? I wonder what their mortgage company thinks ? I see nothing wrong with separating out the personal property from the house sale as long as it is reasonable. It's not like they're trying to evade sales tax or income tax. I'm confident the property tax assessors know what the taxable value of the house is no matter what your purchase agreement is (they'll tell you) and will tax it accordingly. If they're paying the $50k with a personal check..I'd recommend a cashiers check instead. As long as you have a cost base of at least $50k in these items it shouldn't create a taxable event to you, its just like having a nice little private garage sale.