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Do I need to include the sale of an inherited farm land contract on property received in 2017 that was sold on land contract in 2012 in Turbo Tax for my 2017 return?
The land contract was inherited in 2017 after the death of my father in and is being divided between three siblings. All of the capital gains taxes were paid prior to his death. I will report 1/3 of the interest income form the payments received in 2017, but wondering if I need to record the inherited land contract under installment sales or if I need to enter it at all in Turbo Tax.
Thanks!
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‎June 3, 2019
4:54 PM