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Updated over 7 years ago,
Seller Financing - What taxes do I pay as a seller and when?
Example: All in costs on a house $60k, sell for $100k (10k down and $90k seller financed @ 10% for 30 years). I would like to know what taxes are owed and if they are immediate or paid as the monthly payments come in?
Do I have to pay capital gains tax on the $40k even though I have not received it?