modfy08
New Member

Sold home w/ installment. Price originally paid & sold for was $5,000 more. Do list as installment or not since not enough gain?

The program says I don't have to list home on taxes cause it was not enough of a gain but then if I use the form they said for the installment, they want me to pay taxes on the interest. If I total the interest for the whole installment plus the $5,000 we made one the house, it would only be a gain of 8,507.12 total