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Get your taxes done using TurboTax
anyway line 6 should be 0
line 12 should be $47650
and if you sold it for $120,000 taking back a $110,000 note and collected $1,000 in principal on the note in 2018 line 19 should be $11,000
don't be surprised if $47650 appears on schedule 1 line 14. in an installment sale, all depreciation (to the extent of the gain) must be recaptured in the year of sale regardless how much is collected
if you properly enter the installment sale part III of form 4797 should be populated
‎June 4, 2019
5:06 PM