Selling on an owner carry

I have a property im selling on an owner carry and the t/b will be giving me $7,500 down as option money. My question is im i having to pay taxes on the $7,500?

First of all you need to decide if you’re selling or doing a lease with option to purchase. If you’re selling the money is taxable and if you’re doing a lease option then no it is not taxable. Go to my RE blog & see the Lease Option page to learn more about lease options. Blog URL is below in signature.
Good luck,