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I’m sorry, but this is just bad advice. The OP has already stated that he is not engaged in any business activity. Yet you seem to be encouraging him to fabricate a business. This could result in potential tax fraud and increased audit risk. It is fine if you want to risk tax fraud and tax...

As D2 says, Section 179 of the Internal Revenue Code provides for an alternative for depreciation by allowing an expense deduction in the year of purchase of a business asset. You must be engaged in a business activity in order to deduct depreciation or elect to take a Section 179 deduction...

Tom, That is simply untrue. If you sign a financing agreement with a lender, the lender has the right to seize the collateral (tractor in this case) for nonpayment without suing you. That is the whole idea of collateral. Jack

You sir are more trusting than I. Jack

So, I decided to put it up to the seller. Sent him an email explaining that I was still interested in the tractor, but only if he provided some documentation that Kubota Credit had been paid off. That was 4 days ago. Haven’t heard a peep. I think this deal is smelling pretty bad. As...

D2Cat - That seems like a good idea. But, when I asked the seller for proof that he owned the tractor - he had the dealer (in Georgia) email him an invoice. Then the seller forwarded it to me. The invoice only had the tractor (L4600) and FEL on it. And the FEL was the wrong one. Listed it...

Sidecar - Good idea. I will contact Kubota credit. Just seems like the seller would (should) provide something. Daren - The tractor runs and looks good. No dents or signs of abuse. Kept well greased, and all pins seem tight. The machine is 5 years old, and the guy cannot find his original...

Newbie here, but not new to tractors. I am considering purchasing an L4600 with FEL, backhoe, and some attachments. Has about 250 hours. Main problem is that the engine oil has only been changed once. Hydro oil and filters have never been changed. Tractor is local to me, and “has the right...