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    essy2's Avatar
    essy2 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 24, 2011, 04:49 PM
    Do I have to pay income tax on a land contract?
    I'm selling it for just what my payments are so I just make the payments with the money.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Oct 24, 2011, 04:57 PM
    Need more info here. If you are buying property on a contract for deed basis, then the property is not yours to sell. You don't have a deed. You can sell the contract, but that may require the contract holder's permission.
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