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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Aug 21, 1992
Page
8
A reader asks how an installment sale affects tax when a commercial building is sold with an excess mortgage. The answer explains that if mortgage debt exceeds depreciated basis, the excess becomes taxable profit, but an installment sale defers tax by spreading profit over future years while creating investment income. Consult a tax adviser for specifics.
Three bedroom home with wood clad windows attic fan paddle fan fireplace and garage door opener listed at 75 900 in northwest location. Partially finished basement large deck and patio overlooks wooded lot walk to school.
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