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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Use the AITD... Posted by kris on April 20, 2011 at 8:13 PM In Reply to: Use the AITD... posted by Ward-CA- on September 09, 2004 at 5:45 PM Hi My mom sold her home AITD. HOme is in buyers name.She could not afford the payments anymore. Just $5k down takeover payments, $22k due upon refi (no due date). HOme was slightly upside down. They make payments to lender, mortgage in my mom's name. tax accountant says she owes almost $10k in taxes because since loan in her name but buyer makes payments (but home in his name)then it is like rental income. I cant make head or tails of the IRS tax guide on installment loans . Help! Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Hi : My mom sold her home AITD. HOme is in buyers name.She could not : afford the payments anymore. Just $5k down takeover payments, : $22k due upon refi (no due date). HOme was slightly upside down. : They make payments to lender, mortgage in my mom's name. tax : accountant says she owes almost $10k in taxes because since loan : in her name but buyer makes payments (but home in his name)then : it is like rental income. I cant make head or tails of the IRS : tax guide on installment loans : . Help! [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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