Taxes on the sell of a rental home
I was awarded a rental home in my divorce. It’s a home my ex husband and I rented. The home was in his name. We didn’t change it because I was selling it and I was just going to give him money to pay the taxes on the profit. I sold the home for 72,000, paid off the home loan of 17,000 and spent about 20,000 in remodeling before it sold. My ex just completed his taxes 1.5 years late and stated that I owe him 8800$ in taxes. He wants me to pay his entire tax bill because he said this rental income from the sell adjusted his taxes. I was thinking I would just need to pay the taxes on the money and not all of his tax bill. I’ve asked for the documentation from him but still have not received it. Would the income from the sell adjust his taxes? I had a lawyer guess about how much the taxes would be and he said around 4000$. 8800 dollars just seems high for that amount of money.
