A house sold for $600,000. The mortgage on the house is $400,000. The documentary stamp tax on the deed is $0.50 per $100 or portion thereof. How much is the documentary stamp tax on the deed?
$3,000

$300

$200

$2,000
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idk which one to choose
600,000 * 0.50 /100 = 3,000
400,000 * 0.50 / 100 = 2 ,000

Question

A house sold for $600,000. The mortgage on the house is $400,000. The documentary stamp tax on the deed is $0.50 per $100 or portion thereof. How much is the documentary stamp tax on the deed?
 $3,000

 $300

 $200

 $2,000 
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idk which one to choose 
600,000 * 0.50 /100 = 3,000
400,000 * 0.50 / 100 = 2 ,000

amistre64 · Answer

how much did the house sell for?

anonymous · Answer

600,000

amistre64 · Answer

the doc stamp "on the deed" reflects how much the house sold for ... how much it was purchased for

amistre64 · Answer

then use the 600 000 calc