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Capital gain?? Equalization at house sale time

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  • Capital gain?? Equalization at house sale time

    Hi - ex owes me substantially (1/2 of MH + equalization is about 2/3 to 3/4 of the house). If I get the equalization money from the sale of the MH, do I have to pay taxes on it? Or is it considered as my portion of the MH, with no capital gain? Thanks!

  • #2
    No, it's your half of an existing asset, which you are not liquidating, just splitting up.

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    • #3
      OK - so even if the agreement says 1/2MH to each and equalization out of the 1/2, I'm good to go? Just making sure

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