Legal Question in Tax Law in New York

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.

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Answered on 7/15/18, 8:56 am

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