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(Solution) - On June 1 2012 Father sold land to Son for

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On June 1, 2012, Father sold land to Son for $300,000. Father reported the gain by the installment method, with the gain to be spread over five years. In May 2014, Son received an offer of $400,000 for the land, to be paid over three years. What would be the tax consequences of Son's sale? How could the tax consequences be improved?

 







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This question was answered on: Jul 11, 2017

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