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What kind of taxes would you have to pay on a cell phone tower lease buyout? |
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capital gains. it is looked upon as an investment.It is income.
same as your job.
First off, capital gains treatment is not afforded to income from your job. It is not the same.
Secondly, not all cell tower lease buyouts are afforded capital gains treatment or 1031 like kind exchange treatment. It depends upon the lenght of the buyout and whether the lessor (landowner) has reserved any income rights for themselves. The key issue is the element of control which the owner maintains.
Most of the companies offering these buyouts have opinion letters from big 4 accounting firms which you can share with your CPA. But in the end, your accountant has to sign off on the sale.
First answer by Processor. Last edit by SteelintheAir. Contributor trust: 66 [recommend contributor]. Question popularity: 69 [recommend question]
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