Posted by dhermesc on March 21, 2013 at 06:27:34 from (24.248.193.103):
In Reply to: Re: Real Estate taxes posted by dhermesc on March 21, 2013 at 06:19:18:
Rereading your post I am assuming that the delinquent taxes that the trust is paying will also be on property that is not being sold?
If that is the case it still doesn't matter how the proceeds from the sale are paid. If the sales price is more than the basis you owe capital gains. The fact that the money went directly from the buyer to creditors instead of from the buyer to the seller then to the creditors doesn't matter. The only way you beat the capital gains is through a like kind exchange.
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