 installment sale (by Gary Thompson [CA]) Sep 21, 2017 10:03 AM
 installment sale (by Vee [OH]) Sep 21, 2017 11:23 AM
installment sale (by TA [CA]) Sep 21, 2017 12:37 PM
installment sale (by Alan [CA]) Sep 21, 2017 1:41 PM
installment sale (by Robert J [CA]) Sep 21, 2017 6:39 PM
installment sale (by Gary Thompson [CA]) Posted on: Sep 21, 2017 10:03 AM
Message:
State Specific Question About: CALIFORNIA (CA)
As the owners of a SF home for the past 30 years and which is currently leased, the current tenant is interested in buying our rental property. What forms or process should we follow to minimize the tax consequences. --104.34.xxx.xxx |
installment sale (by Vee [OH]) Posted on: Sep 21, 2017 11:23 AM
Message:
Follow your state and local laws and send them to the bank unless you are interested in going thru the federal mortgage licensing programs. --76.188.xxx.xx |
installment sale (by TA [CA]) Posted on: Sep 21, 2017 12:37 PM
Message:
What do you want to do with the money from the sale? 1031 is an option, or talk to a tax professional about making sure you claim all the deductions possible to offset the gains and depreciation --75.149.xx.x |
installment sale (by Alan [CA]) Posted on: Sep 21, 2017 1:41 PM
Message:
Other than doing a 1031 Exchange, an Installment Sale is the way to minimise the tax hit. Your total tax hit will be spread over the period of time that you receive the payments. Consult your tax advisor. --73.158.xxx.xxx |
installment sale (by Robert J [CA]) Posted on: Sep 21, 2017 6:39 PM
Message:
In the olden days, if you accepted 29% or less as a down payment and carried back the first mortgage, you could declare this an installment sale. Then paying taxes over the years. Paying taxes on the income interest and the small principal paid each year, not all at once.
If this was an investment property and you don't want to pay the recapture, 25 percent of the depreciated amount, then you can accept a NO - Down payment and deffer that also.
When I did a no-down, I had the buyer purchase a "BOND" to protect me in case of foreclosure. --47.156.xx.xx |
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