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Level 2
January 11, 2022
Question

We sold our house. The couple who bought it didn’t have the down payment of the $10,000 they needed. How do I show that on our taxes and do I get that back somehow

  • January 11, 2022
  • 2 replies
  • 11 views
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2 replies

fanfare
Level 15
January 11, 2022

Is your home sold or not?

The sales price at closing is what you enter as "Proceeds" on your tax return.

Level 15
January 11, 2022

It is not clear what you are trying to do.   Did the deal fall through because the buyers could not make the down payment?   What exactly are you trying to do in regard to the down payment?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
DaveF1006
Level 15
January 11, 2022

 It depends. To clarify, did you owner finance to did you pay that down-payment in order for them to qualify?

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bs-blakeAuthor
Level 2
January 11, 2022

Yes we were talked into it so the sale could go through. Also we were told to claim on taxes. Just trying to figure out where to put it on our taxes 

Alumni - Champ
January 11, 2022

deleted

**Answers are correct to the best of my ability but do not constitute tax or legal advice.