If I won a house that is valued $380,000 what kind of taxes I'm I looking at?

Question

If I won a house that is valued $380,000 what kind of taxes I'm I looking at?

Answer 1

For  your  federal  income  taxes .   .   .

The  value  is  considered  income and  added  to  your  total .

Just  like  the  people  on  "Extreme Home Makeover "

You  will  have  to  pay  the  rate  for  your  reg  income  plus  the  $380000 .

Look  it  up  on  irs.gov  because  I  have  Never hit  that  bracket .  .  .

http://www.irs.gov/

For  your  property  taxes ,  you  will  have  to   contact  your  county  offices  because  every  place  differs .

You  will  also  have  to  pay  additional  state  taxes in  most  states .

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Answer 2

For starters, either the sales tax of your state...probably equal to $23,000-34,000 -- or income tax, depending on how your unique situation is.  Income tax is generally around 10% give or take once you've filed.

Property taxes, should you keep the house, I would have no clue, lot of variables there.

Answer 3

that's impossible 2 answer !

Answer 4

You may be in forclosure, before you get to move in. <}:-{(

Answer 5

No one can tell you this! Where is the house at? What city, what township, what school district?

You need to call your county auditor to find out.

Answer 6

Income taxes?  Around $105K or more for federal, plus whatever your state takes.