Solved: California Taxes on a property that is being sold and financed

Ernievenegas · ‎04-27-2021

We are selling a property in California and we will finance the property. The title company is telling us they must collect 3.33% of the total of the sale. The total sale price is $375,000.00. I was under the impression we would be paying taxes on the actual money we receive.

abctax55 · ‎04-27-2021

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Cheers!

But here's a bone for you... research F 593 for CA. Actually, the Title Co should have given you the instructions/options.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

View solution in original post

abctax55 · ‎04-27-2021

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Cheers!

But here's a bone for you... research F 593 for CA. Actually, the Title Co should have given you the instructions/options.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

California Taxes on a property that is being sold and financed

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