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Financial Planning / Tax Strategies


Subject:  Capital Gain on Mortgage Payoff Date:  12/24/2000  4:59 PM
Author:  arlr Number:  43349 of 124777

In 1995 I sold a piece of commercial property I acquired in 1976.
I sold the property with a seller financed mortgage and used the gross
profit formula to pay capital gains on the sale each year.

In 2000, the buyer paid off the mortgage outstanding, leaving a residual capital gain on the sale.

Are there any special capital gain preferences on the mortgage payoff of
the residual capital gain?????

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