Updated almost 8 years ago on . Most recent reply
Profit from financing Mobile Home Sales in Rented Park
If I buy 10 mobile homes (no land) in Mobile Home rented Parks & rehab for a total of $5k. Then I sell them a month later for $20k and finance to the new buyer for 60 months. I do this in tax year 2018, what is the profit I pay taxes on in 2018? What is the best way to avoid taxes or spread the tax liability over the 60 months?