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Buying farm on contract--estate/cap. gains tax?
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Posted 11/18/2012 10:21 (#2703714)
Subject: Buying farm on contract--estate/cap. gains tax?


@cfarms76
Generic numbers. Farm was bought for $1000. I buy for $5000. Pay land owner $500 per year. Land owner receives 4 payments ($2000). Land owner dies. Estate receives remaining 6 payments ($3000). How are the taxes handled. Are there any tax benefits to selling on contract vs. bank loan. Trying to weigh options.
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