2024 land sale - price 210K, 50K down payment, seller (me) financed 160K over next 5 years.
Land cost basis 27K, closing costs (commissions etc.) 21K
Have rec'd 2 monthly installment for 2024, totaling $1599 interest and $319 capital gain.
Image shows numbers entered excluding cost basis and closing costs - works but I'm guessing not acceptable? How does one properly represent the 50K down payment on form 6252? right now it's listed as contract price.
