bigalcalbisque
Member
California, My 83 year old parents want to sell their completely paid off 2nd home and carry back financing. The purchase price is $400k with a $20k down payment. 2 year fixed at 5.5% then converting to an adjustable. They currently have a fixed income of $38k a year and pay no federal Income tax. My question is what would there Capital gains percentage be and can that be spread over the life of the loan??
Thanks In Advance
Al
Thanks In Advance
Al