Posted by Freddy W in OKLA on May 01, 2000 at 07:27:40:
This is a typical Lonnie deal. I am buying it for $1,500 and moving it to a vacant lot I recently purchased and reselling with seller financing.
The church doesn’t seem to care whether or not I write it up as a donation, as long as they get their $1,500.
I figured I am helping them get rid of an “old unwanted trailer” and they could help me with a break on my taxes.
Tax Deductible Mobile Home Purchase??? - Posted by Freddy W in OKLA
Posted by Freddy W in OKLA on April 27, 2000 at 08:46:01:
I have a deal cooking with a local church. They own an older home that they used for out of town guests to stay in and they have recently built a “stick” home and no longer need the mobile.
They really want to get rid of this home. I was wondering if I could “hide” this purchase and get a tax deduction by making a check for a $1,500 donation and then they “give” me the home.
Re: Tax Deductible Mobile Home Purchase??? - Posted by Rick
Posted by Rick on April 29, 2000 at 17:44:15:
Why wouldn’t this be tax-deductible anyway? Are you going to live in it yourself?
Re: Tax Deductible Mobile Home Purchase??? - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on April 27, 2000 at 09:04:36:
Freddy,
The IRS calls this tax fraud. They have a large facility up in KS, Leavenworth (I think) where they now have at least one vacancy. Probably just better to buy the mobile home.
Now you might ask the church to take payments…ED